The New York Stock Exchange (NYSE) has pivoted from it previous pivot, announcing that, despite just recently saying otherwise, it will indeed remove three Chinese telecommunications firms from its listings in order to comply with a recent executive order, Bloomberg reported.

The executive order, issued in November, banned U.S. investors from owning or trading in any securities that originate from 31 Chinese firms that the White House believes are connected to the Chinese military. The move was made in reaction to Chinese leadership increasingly drawing on both private and state-owned companies to support military and intelligence activities, which has made the White House wary of U.S. capital being used to support a rival.

As a result, the NYSE on Monday said it would be delisting China Mobile Ltd., China Telecom Corp. and China Unicom Hong Kong Ltd, but then, on Tuesday, said that, after consulting regulators, it wouldn't be delisting them after all. The news caught the White House off guard, as Treasury Secretary Steve Mnuchin apparently called the NYSE president to object, said Reuters. The Treasury Department also released specific guidance that clarified that the three firms in question were indeed covered by the executive order and must be delisted.

The saga has taken the three companies stocks on a wild ride; they plummeted when the delisting was first announced, soared when it was reversed, and are now sinking again, said Bloomberg. The back and forth has become a black eye on the NYSE, as the actions of the normally staid institution have thrown the financial world into confusion over the ultimate fate of Chinese stocks.

It is unknown whether the incoming Biden administration will retain the executive order; even if the new administration does not retain the order, though, it us unlikely that troubles will end for Chinese companies operating in the United States, given recently signed legislation that requires them to undergo audits compliant with standards of the Public Company Accounting Oversight Board (PCAOB) or else face delisting.