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Black Owned Stocks

Black Wealth Matters: Invest in These 8 Amazing Black-Owned Stocks

There’s been a lot of buzz about social justice and equity for marginalized communities recently.

In particular, discussions around civil rights & equity for Black Americans have been at the forefront of social consciousness.

Many investors are looking for ways to support the Black community and invest in Black-owned businesses that align with their values & creed.

Black-owned publicly traded companies contribute to the growth and success of Black entrepreneurs and provide an opportunity for financial returns.

Investing in these businesses can diversify your investment portfolio while supporting social justice causes.

There aren’t many Black-owned, publicly traded companies to invest in, though!

This list of eight black-owned companies will help you choose the right one for your portfolio.

CompanyMarket CapCurrent Stock Price1-Year Performance
UONEK$256 M$5.1912.34%
AXSM$2.70 B$62.0182.81%
AMS$17.34 M$2.8218.00%
CZBS$83.2 M$40254.30%
CARV$17.34 M$4.11-40.06%
BYFC$84.49 M$1.11-28.13%
GBT$4.62 B$68.49103.42%
RLJ$1.55 B$9.52-30.77%

Stock Up on Diversity: The 8 Best Black-Owned Stocks to Invest In

Urban One, Inc. (UONEK)

Urban One, Inc. is a multimedia company that targets African American and urban audiences.

Among their media outlets, they have radio stations, television networks, & digital channels.

Founded in 1980 and went public in 1999. As of March 2023, UONEK’s market cap is approximately $256 million.

Urban One, Inc. is focused on an underserved market. The company has a loyal following among African American and urban audiences, which can be a valuable demographic for advertisers.

With its growth & investment in new technologies, it keeps pace with changes in the media landscape and grows its digital presence.

Despite this, Urban One, Inc. operates in a highly competitive market. Other media companies also target African American and urban audiences, and the company’s stock price has been volatile in recent years.

Axsome Therapeutics (AXSM)

Axsome Therapeutics was founded in 2012 & has been public since 2015. It is developing treatments for neurological disorders.

Their pipeline includes treatments for depression, migraine, and Alzheimer’s disease.

It has been the most performed black-owned business, with an increase of 82.81% in one year.

One of the benefits of investing in Axsome is that it has several drugs in development that have shown promising results in clinical trials. Their focus on neurological disorders addresses an area of high unmet medical need.

Clinical trials can be unpredictable, and the FDA approval process can be lengthy and expensive. Therefore, Axsome Therapeutics’ stock swings in both directions.

American Shared Hospital Services (AMS)

American Shared Hospital Services is a healthcare company that provides turnkey technology solutions for medical facilities. 

Offering gamma knife radiosurgery, proton therapy, and MRI and CT imaging services.

One of the unique advantages of American Shared Hospital Services in the healthcare industry is its ability to provide specialized services that can be difficult for medical facilities to manage on their own.

Also, it has a long history of profitability and has maintained relatively stable stock performance.

But, changes in healthcare policy or reimbursement rates could impact the company’s revenue. As of March 2023, the company’s stock price is $2.82, and its 1-year performance is 18.00%.

Citizens Bancshares Corporation (CZBS)

Citizens Bancshares Corporation is a bank holding company that owns Citizens Bank, a community-focused bank based in Tennessee. The bank was founded in 1917 and went public in 1983.

Citizens Bancshares Corporation focuses on serving underserved communities. It offers various services to meet its customer’s unique needs, including small business lending & affordable housing initiatives.

Although, CZBS has a strong presence in rural areas, which can be an advantage in a competitive banking landscape. However, smaller community banks can be more vulnerable to economic downturns than larger banks.

Carver Bancorp (CARV)

Carver Bancorp is a bank holding company that owns Carver Federal Savings Bank, a community bank primarily serving New York City African American and Latino customers. The bank was founded in 1948 and went public in 1994.

Carver Bancorp has a strong track record of community involvement and has received recognition for its efforts to promote financial literacy.

Broadway Financial Corp. (BYFC)

Broadway Financial Corp. is a bank holding company that owns Broadway Federal Bank, primarily serving low-income communities in Southern California.

Broadway Federal Bank has a long history of providing affordable housing loans and supporting community development initiatives.

Global Blood Therapeutics (GBT)

Global Blood Therapeutics is a biopharmaceutical company that makes treatments for sickle cell disease. The company’s lead drug, Oxbryta, was approved by the FDA in 2019 and is the 1st treatment for sickle cell disease that directly targets the underlying cause of the disease.

Global Blood Therapeutics focuses on a disease with a high unmet medical need. Sickle cell disease primarily affects African Americans and can cause severe pain and organ damage.

GBT’s lead drug has shown promising results in clinical trials & has the potential to become a significant revenue generator for the company.

RLJ Lodging Trust (RLJ)

RLJ Lodging Trust is a real estate investment trust that owns a portfolio of hotels in the United States. The company’s properties are primarily located in urban and coastal markets and cater to business and leisure travelers.

Since the hotel industry has experienced consistent growth in recent years, RLJ Lodging Trust is well-positioned to capitalize on this trend. Its properties are located in high-demand markets, which is an advantage in this highly competitive market.

The COVID-19 pandemic has significantly impacted the hotel industry, and it may take some time to recover fully.

Make a Difference with Your Money

Investing in black-owned stocks is a dope way to support diversity in the stock market and make some cash simultaneously. There are tons of successful companies owned by black folks that you can invest in and help them thrive.

But don’t forget to hit up a financial advisor to get the lowdown on which investment strategy suits your needs and goals the best.

By investing in black-owned stocks, you’re not only potentially making bank, but you’re also giving the nod to diversity & inclusion in the stock market.

This win-win situation can make your bank account & the whole neighborhood happy.

So, what are you waiting for? Invest in some black-owned stocks and watch your portfolio grow!

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