The pink sheets are the daily bid and ask prices of over-the-counter stocks, as published by OTC Markets. The pink sheets also identify the market makers who trade each stock. Any shares listed on the pink sheets should be traded with caution, since issuers do not have to submit to the filing requirements of the Securities and Exchange Commission, which means that there may be little current information available concerning their financial performance, financial position, or cash flows. Stock prices are typically listed at $5 or less, with many shares trading for pennies per share. The name is based on the color of the paper on which these quotes were originally printed.