650166489/Anne Czichos – stock.adobe.com
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In 2014, the French biotech listed in Paris also listed on Wall Street, on the Nasdaq, using a mirror security: an ADS, for “American depositary share”. The French share was then trading at around €35 and the parity chosen was one French security for each American ADS. But today, DBV Technologies shares fell to around €0.65.
Hunting penny stocks on the Nasdaq
Problem, Nasdaq has just tightened the rules applicable to volatiles penny stocks which are several hundred: basically, securities that trade under $1 for more than 360 sessions will be delisted. In response to this new rule, DBV has decided that from November 29, each of its ADSs will no longer reflect one, but five French shares. What in fact will correspond to a grouping of ADSs whose value will mechanically return above $1.
Belgium
