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Infosys ADR spikes sharply as forced short-covering halts trading
Infosys ADR jumped sharply and triggered a trading halt as forced short-covering drove prices higher in early US trading amid thin liquidity.
Infosys Ltd’s American Depository Receipt witnessed extreme volatility in early US trade after a sudden short squeeze pushed prices sharply higher. The ADR surged nearly 40 percent at the open, briefly touching a 52 week high before volatility controls triggered a trading halt. At 21:37 IST, the stock was trading at $21.90, up 14.08 percent.