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The OTC Markets Group was founded in 1913 as the National Quotation Bureau. At that time, it was a private corporation that published stock quotes in newspapers on yellow or pink sheets. The term pink sheet stocks stuck and investors still use that term to refer to these types of stocks. Trading Pink Sheet Stocks or OTC Stocks The pink sheets are a privately held company, while the Nasdaq owns and operates the OTCBB. The other difference between the pink sheets and OTCBB is that there are stricter standards for OTCBB ... Here we clear up the problems investing in penny stocks, over-the-counter bulletin board stocks, OTCBB, and pink sheets. The best way to describe a penny stock is any stock that is trading on the Pink Sheets or OTCBB, Over the Counter Bulletin Board. A penny stock typically sells for less than $5 a share, and more often for less than $1.