What are some possible disadvantages to investors who invest in stocks listed on a private stock market? I. The trading volume in a private stock market is very limited. With such limited participation by investors, it is difficult to determine the appropriate market price. II. There is limited transparency because the required disclosure of information by private firms listed on private stock exch may be less than what is required when firms go public. III. Private firms listed on private stock exchanges are usually not profitable enough to go public and they do not have other of obtaining funds