Monday, August 14, 2017

6 Stocks of Companies Started by Black Professionals

While doing some research for a book I'm trying to write, I discovered something that I'm certain very few people, especially those in the black community, know about.

Currently, there are 6 companies started by Black professionals that are publicly traded companies. 

That's right. You can buy shares of stock in these companies through your broker as they are listed on either the NASDAQ or the NYSE MKT LLC, formerly the American Stock Exchange (AMEX).

While I felt it necessary to share this information in hopes that those of you that are investors will look into the possibility of adding these companies to your investment portfolio, this is in no way an endorsement of their stock offerings. As with any investment, it is up to you to determine if adding any of these stocks to your portfolio fits your goals as far as your investments are concerned.

At the same time, I'm big on supporting Black-owned businesses and while these companies can't really be considered to be Black-owned since they are publicly traded, investing in these companies supports what the original founders of these companies intended when they decided to pursue IPOs for these companies.

During my research, I also found several companies that have stock issues that can be purchased on the Over-the-Counter Bulletin Board (OTCBB). Stocks listed on the OTCBB are generally considered very risky and I have decided to omit those companies at this time.

Here are those 6 companies that are publicly traded:
  1. Carver Bancorp Inc. (CARV - NASDAQ)
  2. Broadway Financial Corp. (BYFC - NASDAQ) doing business as Broadway Federal Bank
  3. RLJ Entertainment (RLJE - NASDAQ)
  4. RLJ Lodging Trust (RLJ - NYSE MKT LLC)
  5. American Shared Hospital Services (AMS - NYSE MKT LLC)
  6. Radio One (UONEK - NASDAQ)

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