DEFINITION of 'No Quote'
A stock that is inactive or not currently being traded. A no-quote stock does not have a bid or ask price. No quote stocks may be infrequently traded and thus difficult to buy or sell. When the stock is traded, it may have a wide spread between the bid and ask price relative to that of an active stock.
BREAKING DOWN 'No Quote'
A no-quote stock would be considered illiquid; illiquidity means higher risk because with few buyers, it may be difficult for a seller to get a desirable price. Most securities traded on exchanges are highly liquid and can be bought and sold at any time during trading hours. A very small company would be more likely to have no-quote stocks than a nationally recognized and established blue chip company.