Pink Sheets plans warnings for suspicious stocks |
| USA Today - Jul 25, 2007 |
Pink Sheets, a largely unregulated stocks forum popular with penny-stock companies and stock touts, is trying to give its stocks different shades of pink.
Starting Aug. 1, the Pink Sheets trading system aims to help investors quickly find questionable stocks by labeling companies based on how well they provide financial information to the public. The categories attempt to address one of the biggest knocks against Pink Sheets companies: They are not required to file financial statements.
The lack of financial reporting makes Pink Sheets companies popular vehicles for stock promoters who lure investors with promises with nothing behind them.
The Pink Sheets category system doesn't require companies to file financials. The system, though, aims to reward companies for providing financial information and chide those that don't, says Pink Sheets CEO Cromwell Coulson. Investors will be able to quickly find Pink Sheets stocks that don't provide information. "Investors will be warned," Coulson says. There will be four main categories:
Read Full Article from USA Today
- Posted: 2007-07-25 12:51:24
| More Stock Investor Place Financial News |
 |
|
|
|
| Stock Investor Place Financial News Archive |
|
|
|
