Business, 01.08.2020 22:01 damienwoodlin6

The ADR of a British firm is convertible into 3 shares of stock. The share price of the firm was 30 pounds when the British market closed. When the U. S. market opens, the pound is worth $1.63. (a) Calculate the implied market price of the ADR. (b) Suppose the market price of the ADR is, in fact $150. Very Briefly explain how the market can be returned to equilibrium.

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