Brazil and currencies

ADR (American Depositary Receipt)

A share traded in New York that stands for shares of a company from another country, such as a Brazilian company listed on B3. One ADR can stand for one or several of the company's shares. A few Brazilian companies, such as Nubank, list their own shares in New York instead; in Brazil, those trade on B3 as BDRs.

Why does it matter?

These New York shares let StockLab show Brazilian companies with the same tools as U.S. companies, from the yearly report (20-F) they file with the SEC.

How do I read it?

Prices are in U.S. dollars, and StockLab converts the company's figures from reais to dollars at the year's average exchange rate, so they look smaller than in reais. A change in the exchange rate also changes the figures in dollars, even if they didn't change in reais.

Example

Itaú Unibanco's shares trade on B3 as ITUB4, in reais, and in New York as ITUB, in dollars. StockLab shows the New York shares.