Exchange hierarchies
Me and my friend were just learning how to invest in the stock market and found ourselves in way over our head. In an effort not to end up losing all our money we decided to take our time with it and learn more about how it all fit together and how to research everything. In my research I discovered something I’d never heard about called pink sheets. Pink sheets were interesting because they were below the OTCBB which was below the major exchanges (in the hierarchy of rank). These pink sheets were apparently higher risk because they didn’t have to report to the SEC and information on them could be hard to find. We decided to stick with the major exchanges.