Can someone explain how ADR works in terms of variation? for example if I buy Adr PBR, the actual PBR stock is in the Brazilian market and the price changes there during the market times. How does the ADR price change work when I buy it on NY market?
Another example if I buy Novo nordisk on European markets how does the equivalent change value on NY stock that operates in a completely different timezone?
And for etfs, if I buy IWDA in europe, it will stop chaging value while the market in the US is still going, does the price just jump and update in the following day?
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