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This is a question regarding Ocado Group, the British grocery and technology company.

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When the word "ocado" is searched at adr.com there is one listing and it is for the symbol OCDDY. At the item "ratio (DR/underlying)" is "1:2" meaning 1 depositary receipt for every 2 of the underlying shares which have the symbol OCDO. The price of OCDO.L (at Yahoo Finance) is about 8.29 GBP and with an exchange rate of about 1.2086 we get a price of 10.02 USD. Two of these shares would be worth 20.04 USD. The quote for OCDDY is 20.44 USD which is similar to 20.04 USD.

What is OCDGF (at Yahoo Finance) ? Note that OCDGF is less liquid and traded only 394 shares yesterday and has a price similar to a single share of OCDO.L. OCDGF traded at 9.13 USD yesterday which is a day when OCDO.L closed at 7.84 GBP which was approximately 9.47 USD yesterday.

Why does the USD market have both a depositary receipt worth 2 shares of the underlying and another security that also seems to be the underlying OCDO.L ? In other words, what is OCDGF at Yahoo Finance ?

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OCDGF is an "F share" (the 5-letter ticker ends with "F"). US broker-dealers created this ticker to provide US investors with quotes of Ocado in US dollars instead of British Pounds. OCDGF trades on the US over-the-counter stock market. It represents US over-the-counter market quotes of Ocado's London Stock Exchange shares. More details about F shares: FAQ on F Shares - OTC Markets

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According to my (paid for so I can't share much info) market data provider OCDGF is OCADO group shares traded OTC (over the counter - not on a market) in the US. The OTC market in the US is known as the "pink sheets" so more information can be found by looking up OTC markets or "pink sheets" here or on a search engine. Essentially it is the OCADO shares traded OTC in USD in the US.

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