Large numbers of Muslims are boycotting Danish companies because Danish newspapers published political cartoons that offended them. Consequently, some Danish companies have suffered substantial revenue losses. Considering that the stocks of good Danish companies may have been depressed (even though these losses are temporary and don’t reflect on their businesses) I thought it worth looking at Danish ADRs.

I found a list from the Bank of New York here. A couple of them have indeed seen price declines since the controversy started in September.