23 days ago • Posted by William Ramstein
VW is seeing trading volumes surge and ADRs jumping
Two types of VW ADRs trade in the U.S. -- one is connected to VW's common stock in Germany, and the other is tied to its preference shares. The common ADRs jumped as much as 49% late yesterday, with volume surging to more than 15 times the three-month daily average during the session. VW’s common stock is much less liquid than VW’s preference shares because three holders -- the Porsche and Piech family, the German state of Lower Saxony and Qatar -- hold about 90% of it. The small supply available to U.S. retail investors is further driving up the common stock more so than the preference shares.