This is not a stock. It is the ADR to BKIR. If you want to invest in this instrument, make sure you understand the parity to the parent...BKIR. You can keep track by going to numerous web sites. Bank of New York Mellon can open the books and adjust IRE when the parity justifies. I learned the hard way with a RS when I was invested in the ADR IRE. I was also fortunate to average down before RS to minimize my loss.
There were some good guys here advising to buy the parent...BKIR when it was.08..JD Davis. They have tripled their money. Listen to them if you are long term investor. Listen to Ghart when trading IRE short term.
Understand the premium with parity and that if it is out of kilter...Bank of New York Mellon will open the books on the ADR. Also...keep track of the Euro...it will make a difference/
Mark you did an excellent job of connecting the underlying to the ADR, I agree tracking of both is required for success with this ADR. As for the question from fracisp where can you go to trade BIR.IR, TD Ameritrade provides that ability to their active clients, I would think most of the larger online brokers would do the same.
I will defer to JFDavis, Markcusw, Patrick, and Ghart on this. But, since no one has written anything yet, here is my understanding:
One can buy shares of BOI in the OTC world by purchasing IRLBF (go to the Yahoo.IRLBF board). However, there are very few people doing this and the stock is very hard to move and sometimes you must sell at less than the comparable IRE PPS if you need to get out of your position. Also, if you want to buy, it is sometimes hard to buy, since there are so few people on the board. The upside is that the same conditions can sometimes allow you to buy shares at a good price, since someone on the other end needs to sell them. I briefly did this and just decided to go back to having all my shares in IRE due to the difficulty in making a trade, if necessary. I made ~$5,000+ doing this.
I looked at buying overseas and I believe Fidelity could do it if the amount was high enough; but, there are fees for foreign currency exchange both ways: on the purchase and on the sell. So, you either had to have a relatively good sized purchase and you traded well, so that the fees and Foreign exchange fees did not significantly deplete your profits, or you buy to hold for the long term and watch it go up and pay the fees when you sell (and when you purchased, of course).
I have been with IRE for about 2+ years and hold about 25,000+ shares. I have made a little money/share increase through selling and repurchasing. If I had Ghart's knowledge and time, I would day trade as he does, since there seems to be patterns that occur. However, since I have neither, I have taken the JFDavis approach of hold and cry when it goes down and be very happy when it goes up, which I think it will continue to do over the long term, which is why I bought in the first place pre-RS and just held.
I hope this was helpful. Have a good day!
Sentiment: Strong Buy