When it comes to trading over-the-counter stocks, OTCQX is the top tier of the three marketplaces that are provided and operated by OTC Markets Group.
Today, OTCQX unveiled its "Best 50" — a ranking of top performing companies on the OTCQX Best Market based on 2020 total return and average daily dollar volume growth.
Among those 50 companies, five were cannabis players. Here they are:
The first marijuana business on the ranking at number 14 is Columbia Care Inc. CCHWF. Over the past year, the company has substantially increased its retail footprint within the country. Last fall, it boosted its presence in Illinois by launching a new store in Villa Park. It also cut the ribbon on two new stores in Florida, and jumped right into the new recreational market in Arizona.
In November, marketing expert Alison Worthington opted to join the company’s board of directors. Worthington recently told Benzinga she “can’t think of a more dynamic industry than cannabis,” adding that Columbia Care is able to “make a difference with their ethical, growth-oriented mindset.”
At number 22 is Planet 13 Holdings Inc. PLNHF. This Nevada-based company didn't let the 2020 pandemic halt its plans. In October, Planet 13 began expanding its Las Vegas SuperStore dispensary, spanning 112,000 square-feet and with a new 80-foot video-wall. The store — launched in November — bolstered the retail space to 23,000 square feet with 40 new points of sale. The budget ranges from $1.5 million to $2.5 million. Planet 13 expects to complete the project by the end of the first quarter of fiscal 2021.
TerrAscend Corp. TRSSF came in right after Planet 13 at number 23. Last month, it secured $120 million in financing through a Senior Secured Term Loan with a syndicate of lenders.
The closed loan is secured by Ilera Healthcare, a company TerrAscend purchased last year.
According to the company's latest earnings report, net sales amounted to CA$51 million for the third quarter, up by 90% year-over-year. The company debuted on the U.S. market in February 2019 by acquiring the California-based retailer — Apothecarium. These days, it continues to expand its footprint, most recently by cutting the ribbon on its fifth store in the Golden State.
Next Green Wave
At number 41 is Next Green Wave NXGWF. This Vancouver-based company recently grabbed headlines when it inked a supply and production deal with Gilbert Anthony Milam Jr. (aka hip hop artist Berner) where it agreed to grow exclusive COOKIES genetics, and to commercialize it later under Berner's Cookies brand.
Next Green Wave also has a new cultivation facility in Coalinga, California, which upon completion should span 50,000 square-feet.
At 48 is Green Thumb Industries Inc. GTBIF. Last year, the Chicago-based company sold a chunk of its real estate portfolio to Innovative Industrial Properties Inc. IIPR for $50 million. In fact, GTI did at least three deals with Innovative Industrial.
In November, GTI opened Rise Kendall — its 50th retail location.
The top five companies on the OTC Best list included AcuityAds Hldgs Inc. ACUIF; Nouveau Monde Graphite Inc. NMGRF; Grayscale Digital Large Cap Fund LLC GDLC; HIVE Blockchain Technologies Ltd. HVBTF; and PointsBet Holdings Ltd. PBTHF.
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