Top Black-Owned Companies to Support on the Stock Market - BlackOwned365

Disclaimer: The purpose of this article is to raise awareness of publicly traded black-owned businesses. We strongly encourage conducting extensive research before making any trades and only trading within your financial means.

The company Black Owned 365 LLC or is stakeholders is not liable for any investments or financial losses that the reader may potentially incur. 


A 2020 U.S. Census Bureau Annual Business Survey cited more than 140,000 businesses in the U.S. Among these businesses, only six are publicly traded on the NYSE & NASDAQ. The primary advantages of a company going public include added value to employees, brand recognition, and raising capital to scale business operations. Here's a look at the six black-owned publicly traded companies that level up on the market.

1.(DRCT) Digital Direct Holdings 

  • Website
  • CEO: Mark D. Walker
  • Founded: 2018
  • Headquarters: Houston, Texas 
  • Industry: Ad Tech
  • Description:  Ad Tech company with a focus on real-time bidding/programmatic advertising platforms
  • Brands: Colossus SSP, Huddled Masses, and Orange 142
  • Black Market Watch: The IPO launched in February of 2022. President and Owner W Keith Smith owns 10% of the company's shares; Smith sold 60,000 of the 140,000 shares owned in March 2022. More details on ownership here. The ad platform Colossus Media SSP serves as an exchange that allows businesses to purchase ad space for major Black-Owned publications (i.e., Blavity, EBONY, MademNoire, & The Root)


2.(CARV) Carver BankCorp

  • Website:
  • CEO: Michael T. Pugh
  • Founded: 1948
  • Headquarters: (Harlem) New York, NY
  • Industry: Banking
  • Description: Carver Bancorp is a holding company for Carver Federal Savings Bank, the largest African-American-operated bank in the United States
  • Brands: Carver Federal Savings Bank
  • Black Market Watch: The firm's ownership is split among 18.94% of institutional shareholders, 5.16% of Carver Bancorp company insiders, and 75.89% of retail investors (i.e., Individual investors who trade on their 401K, IRA, or Brokerage Agent/Platform). The current CEO Pugh holds the largest volume of shares among the insider investors.  


3. (UONE & UONEK) Urban One 

  • Website:
  • CEO: Alfred C. Liggins
  • Founded: 1980
  • Headquarters: Silversprings, MD
  • Industry: Media / Entertainment
  • Description: Multimedia TV, online, radio, & digital audio company geared toward African American audiences
  • Brands: TV One, Radio One, Reach Media, iOne Digital (Bossip, Newsone, HelloBeautiful, Madamenoire, etc.)
  • Black Market Watch: After rebranding as Urban One (formerly radio one), they launched a podcast network on 2/1/2023, debuting with ten new shows and 1.5 million downloads. The company sold its 1% stake in MGM Casinos in March 2023. Inside investors (i.e., The company's officers, directors, certain employees, certain consultants, certain stockholders & their family members) currently own 50% of the company. See here for guidance on UONE vs. the UONEK ticker.


4.(BYFC) Broadway Financial Corp.

  • Website:
  • CEO: Brian E Argrett 
  • Founded: BF 1946, CFB 1995
  • Headquarters: Los Angeles, CA
  • Industry: Banking
  • Description: Banking
  • Brands: Broadway Financial & Loan, City First Bank
  • Black Market Watch: After surviving an attempted hostile takeover from a white banking executive, City First Bank, and Broadway Financial merged in April 2021 and currently hold over $1B in assets


5.(RLJ) RLJ Lodging Trust

  • Website:
  • CEO: Leslie D. Hale 
  • Founded: 2011
  • Headquarters: Bethesda, Maryland
  • Industry: Hospitality Real Estate Development
  • Description: Hotel investment company that owns premium-branded, rooms-oriented, high-margin, focused-service, and compact full-service hotels
  • Brands: The firm provides operations and management services for Courtyard by Marriott, Hilton Garden Inn, Hyatt Place, and Embassy Suites Hotels
  • Black Market Watch: The IPO launched in May 2011. Martingale Asset Management L P increased its stake in the company by 24% by purchasing additional shares. On June 4, Cipher Capital purchased an additional 30,000 shares, increasing its stake by 65%.


6.(AXSM) Axsome Therapeutics 

  • Website:
  • CEO: Herriot Tabuteau 
  • Founded: 2012
  • Headquarters: New York, NY
  • Industry: Pharma
  • Description: Biopharmaceutical company developing novel therapies for central nervous system (CNS) conditions that have limited treatment options
  • Brands: Sunosi (Rx for sleep disorder), Auvelity (Rx for major depressive disorder)
  • Black Market Watch: 382 institutional shareholders own 72.70% of company shares. Company insiders own 36.21% of company shares, with 16.87% of company shares owned by the founder & CEO Tabuteau. A Healio research study determined Rx Sunosi to be a likely superior treatment for sleep apnea.

While there is still a lack of representation of Black-owned businesses in the public market, Black-owned firms are making strides. Black-owned companies more commonly reinvest in their communities and provide employment opportunities for black professionals. By supporting black-owned businesses we can help bridge the wealth gap and promote economic equality.


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