Infosys stock shock! Why did ADRs jump nearly 40% in minutes on NYSE? Explained
US-listed shares of Infosys shot up as much as 40% within minutes of the market opening on Friday, briefly adding tens of billions of dollars to the Indian IT major’s market value.
The sudden surge pushed the American Depositary Receipts (ADRs) to a 52-week high of $30 and forced the New York Stock Exchange to halt trading due to extreme volatility, according to ET.
