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 www.blackenterprise.com 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 email@example.com.
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