Pink sheets
The pink sheets are an for that are not listed on a major exchange like the NYSE or . The name comes from the pink paper that dealer quotes were once printed on decades ago, before the market moved to electronic quoting.
Today the pink sheets are the lowest and least regulated tier operated by Group, sitting below the higher OTCQX and OTCQB tiers, which require companies to meet stronger financial reporting and disclosure standards. Companies on the pink sheets often provide minimal or outdated financial information, and some have stopped filing regular reports with altogether.
land on the pink sheets for a range of reasons, from small or early-stage companies that have never met a major exchange's listing requirements, to formerly listed companies that were due to financial trouble or falling share prices. Because of the light disclosure standards and thin trading typical of this market, pink sheet stocks carry meaningfully more risk than exchange-listed shares, and thorough independent research matters even more than usual before buying one.