In search of black stocks – investing in businesses majority-owned by African Americans

In search of black stocks – investing in businesses majority-owned by African Americans – Brief Article

Derek T. Dingle

Q As an individual investor and an investor in an investment club, we are always looking for majority black-owned companies that are trading on the New York Stock Exchange (NYSE), American Stock Exchange (AMEX), or Nasdaq. Can you help me find them?

–Phillip, BE Bulletin Board

A There are several black-owned companies that trade on the public market. Currently, there are no African American companies that are listed on the New York Stock Exchange, though. The first black-owned company listed on the Big Board was BET Holdings Inc., the parent of Black Entertainment Television. (The entertainment conglomerate went private in ]998,) Most African American publicly traded companies can be found on the Nasdaq, most notable are BE 100’S companies Radio One (Nasdaq: ROIA) and Granite Broadcasting (Nasdaq: GBTVK). In fact, you can read about these companies in the article “The Perils of Being Public” in this issue.

To find the full listing of African American-owned public companies, which range from banks to dotcoms, you should click on to or order the BLACK ENTERPRISE Wealth Building Kit. Our Website and the kit not only provide a comprehensive listing complete with exchange artd ticker information, they provide you with a full list of black-owned mutual funds as well.

However, conduct the same due diligence that you would engage in with any potential stock purchase. Make sure the company has a sound business model, top-notch management, and a consistent record of meeting revenue and earnings targets.

–Derek T. Dingle

Mail your finance questions to Ask B.E., BLACK ENTERPRISE, 130 Fifth Ave., New York, NY 10011, or send an e-mail to

COPYRIGHT 2001 Earl G. Graves Publishing Co., Inc.

COPYRIGHT 2001 Gale Group