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Y

What is 'Y'

A letter that appears on a Nasdaq stock symbol specifying that a particular stock is an American Depositary Receipt. An American Depositary Receipt (ADR) is a negotiable certificate that represents one or more shares of foreign stock or a fraction of a share. ADRs are traded on a U.S. exchange and are issued by a U.S. depositary bank. ADRs were introduced in response to the difficulties involved with buying shares in foreign corporations, including the challenges of trading at different prices and currency values. U.S. banks and brokerages can purchase bulk lots of shares from the foreign corporation, bundle the shares into groups and reissue them as ADRs on the New York Stock Exchange, American Stock Exchange or the Nasdaq.

Explaining 'Y'

Nasdaq listed securities have four or five characters. When a fifth character appears, it identifies the issue as being one that is other than a single issue of common stock or capital stock. The Y identifies the stock as an American Depositary Receipt. These issues have distinct advantages in that they are a convenient and cost-effective method of buying shares in a foreign corporation. When an investor buys or sells ADRS, he or she is trading in the U.S. market and the trade will clear in U.S. dollars. Investors can invest internationally in a variety of ways including ADRs, mutual funds, exchange-traded funds, U.S.-traded foreign stocks or direct investments in foreign markets.


Further Reading


Convertible debt issuance, capital structure change and financing-related information: Some new evidence
www.sciencedirect.com [PDF]
This paper provides evidence on the valuation effects of convertible debt issuance. Common stockholders earn significant negative abnormal returns at the initial announcement of a convertible debt offering, and also at the issuance date. In contrast, the average valuation …

Neural networks in finance and economics forecastingNeural networks in finance and economics forecasting
www.worldscientific.com [PDF]
This paper provides evidence on the valuation effects of convertible debt issuance. Common stockholders earn significant negative abnormal returns at the initial announcement of a convertible debt offering, and also at the issuance date. In contrast, the average valuation …

Network science: a useful tool in economics and financeNetwork science: a useful tool in economics and finance
link.springer.com [PDF]
This paper provides evidence on the valuation effects of convertible debt issuance. Common stockholders earn significant negative abnormal returns at the initial announcement of a convertible debt offering, and also at the issuance date. In contrast, the average valuation …

Fractional white noise calculus and applications to financeFractional white noise calculus and applications to finance
www.worldscientific.com [PDF]
This paper provides evidence on the valuation effects of convertible debt issuance. Common stockholders earn significant negative abnormal returns at the initial announcement of a convertible debt offering, and also at the issuance date. In contrast, the average valuation …

Finance-growth nexus in China revisited: New evidence from principal components and ARDL bounds testsFinance-growth nexus in China revisited: New evidence from principal components and ARDL bounds tests
www.sciencedirect.com [PDF]
This paper provides evidence on the valuation effects of convertible debt issuance. Common stockholders earn significant negative abnormal returns at the initial announcement of a convertible debt offering, and also at the issuance date. In contrast, the average valuation …

Qualitative reasoning in business, finance, and economics: IntroductionQualitative reasoning in business, finance, and economics: Introduction
www.sciencedirect.com [PDF]
This paper provides evidence on the valuation effects of convertible debt issuance. Common stockholders earn significant negative abnormal returns at the initial announcement of a convertible debt offering, and also at the issuance date. In contrast, the average valuation …

… Evolutiva y alguna de sus aplicaciones en Economía y Finanzas//An Introduction to Evolutionary Computation and some of its Applications in Economics and Finance… Evolutiva y alguna de sus aplicaciones en Economía y Finanzas//An Introduction to Evolutionary Computation and some of its Applications in Economics and Finance
www.upo.es [PDF]
This paper provides evidence on the valuation effects of convertible debt issuance. Common stockholders earn significant negative abnormal returns at the initial announcement of a convertible debt offering, and also at the issuance date. In contrast, the average valuation …

Promoting the Growth of Medium and Small-sized Enterprises through the Development of Medium and Small-sized Financial Institutions <span style=[J]' src='/thumbnails/?img=http%3A%2F%2Fen.cnki.com.cn%2FArticle_en%2FCJFDTotal-JJYJ200101001.htm' />Promoting the Growth of Medium and Small-sized Enterprises through the Development of Medium and Small-sized Financial Institutions [J]
en.cnki.com.cn [[J]' href='https:/api.miniature.io/pdf?url=en.cnki.com.cn%2FArticle_en%2FCJFDTotal-JJYJ200101001.htm'>PDF]
This paper provides evidence on the valuation effects of convertible debt issuance. Common stockholders earn significant negative abnormal returns at the initial announcement of a convertible debt offering, and also at the issuance date. In contrast, the average valuation …