I was looking at some ADRs on adr.com and noticed some were missing entries for their underlying exchanges e.g. symbols “BIDU” and “DQ”. Previously, because I hadn’t stopped to think about it, I’d always assumed that any ADR corresponded to a stock that was traded directly on some foreign exchange. This raised some questions for me that I couldn’t answer via Google:
1.) Can someone confirm that it is possible for companies to trade solely through an ADR? How common is this? Roughly what…