taxikid,
At the very least, let's keep the terminology straight. The following definitions are off of the NASDAQ and NASD home pages at www1.nasdaq.com and nasd.com respectively:
"Nasdaq National Market securities: The Nasdaq National Market consists of over 3,000 companies that have a national or international shareholder base, have applied for listing, meet stringent financial requirements and agree to specific corporate governance standards. To list initially, companies are required to have significant net tangible assets or operating income, a minimum public float of 500,000 shares, at least 400 shareholders, and a bid price of at least $5. The Nasdaq National Market operates from 9:30 A.M. to 4:00 P.M. EST, with extended trading in SelectNet from 8:00 A.M. to 9:30 A.M. EST and from 4:00 P.M. and 5:15 P.M. EST."
"Nasdaq SmallCap Market securities: The Nasdaq SmallCap Market comprises of over 1,400 companies that want the sponsorship of Market Makers, have applied for listing and meet specific and financial requirements. Once a company is approved and listed on this market, Market Makers are able to quote and trade the company's securities through a sophisticated electronic trading and surveillance system. The Nasdaq SmallCap Market operates from 9:30 A.M. to 4:00 P.M. EST., with extended trading in SelectNet from 8:00 A.M. to 9:30 A.M. EST and from between 4:00 P.M. and 5:15 P.M. EST."
"OTC Bulletin Board Service (OTCBB): An electronic quotation system for unlisted, non-Nasdaq, over-the-counter securities. NASD members may display real-time quotes for securities not listed on Nasdaq or other U.S. securities exchanges, stocks of small, developing companies, foreign securities, or the American Depositary Receipts (ADRs) for foreign companies. (See "American Depositary Receipt.")"
"over-the-counter (OTC) securities: Securities that are not listed and traded on an organized exchange."
"pink sheets: Daily printed listings containing quotations for thousands of over-the-counter stocks that are not listed on any of the major stock markets. These quotations are entered by dealers acting as Market Makers in the individual securities. The pink sheets are printed by the National Quotation Bureau."
So kid, fact is that Pink Sheets are not the same as NASDAQ Small Caps. Yes, SmallCaps are riskier than NNM, but Pink Sheets don't meet requirements for ANY organized exchange. They are typically your so-called "penny stocks" which are far riskier than any listed securities.
Bottom line: The term "Pink Sheet" does NOT apply to Fonar which is listed on the NASDAQ SmallCap Market.
HT |
