The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
Total dollar volume increased on OTC Markets in February, with companies in emerging industries dominating top trading activity.
In February, the total dollar volume across all three OTC Market tiers — OTCQX, OTCQB, and Pink Markets — was nearly $82 billion, a 14% increase from January.
Looking at the OTCQX Market, the top tier of the OTC Markets, investors focused their attention on companies from industries such as crypto and cannabis — a continued trend from previous months. Quite notably, nine out of the top ten highest performing securities on the OTCQX in February were from either one of the two sectors.
An Increase In Crypto
Investors demonstrated high enthusiasm for the crypto market in February, with crypto accounting for 50% of the top ten traded securities on the OTCQX Market. The presence of crypto not only increased from the previous month but also took up the top two spots on the list.
The top two traded securities on the list were Grayscale Bitcoin Trust GBTC, followed by Grayscale Ethereum Trust ETHE.
Also among the topmost actively traded securities were blockchain infrastructure company HIVE Blockchain Technologies Inc HVBTF, and cryptocurrency mining company Hut 8 Mining Corp. HUTMF. Both companies experienced a significant month-over-month dollar volume increase of 112% and 104%, respectively.
The Impact Of Cannabis Reform
In response to the COVID-19 pandemic, many states deemed cannabis as an essential business in 2020. As a result, cannabis experienced significant growth for the year. Data from the OTCQX top-performing securities list demonstrates continued enthusiasm for the sector in 2021 as well.
Among the list of securities were Green Thumb Industries GTBIF, Cresco Labs CRLBF, Curaleaf Hldgs Inc. CURLF, and Trulieve Cannabis Corp. TCNNF.
U.S.-based cannabis company Medmen Enterprises Inc. MMNFF was among the top 15 most actively traded securities in February. The company began to see a surge in trading volume after Democrat senators said they would bring a cannabis reform bill on to the Senate floor, which would focus on ending federal prohibition.
CytoDyn Inc. CYDY was the most actively traded company on the OTCQB Venture Market with a total dollar volume of $537 million for the month.
American Battery Metals Corporation ABML, Voyager Digital Ltd. VYGVF, Argo Blockchain Plc ARBKF, and Alpine 4 Technologies ALPP were all among the most traded securities on the OTCQB Market.
Retail-focused cannabis company High Tide Inc. HITIF was also among the top ten traded securities on the OTCQB in February with a notable dollar volume increase of 548%.
Below are the top 10 most actively traded securities on the OTCQX and OTCQB Markets in February.
|Grayscale Bitcoin Trust (BTC)||GBTC||USA||$12,857,603,595|
|Grayscale Ethereum Trust (ETH)||ETHE||USA||$2,608,383,506|
|Roche Holding Ltd||RHHBY||Switzerland||$1,585,586,202|
|Green Thumb Industries Inc.||GTBIF||USA||$587,497,308|
|HIVE Blockchain Technologies Ltd.||HVBTF||Canada||$556,167,106|
|Cresco Labs Inc.||CRLBF||USA||$482,495,988|
|Curaleaf Hldgs Inc.||CURLF||USA||$480,062,627|
|Trulieve Cannabis Corporation||TCNNF||USA||$447,595,909|
|Hut 8 Mining Corp||HUTMF||Canada||$340,823,271|
|Bitwise 10 Crypto Index Fund||BITW||USA||$331,092,727|
|American Battery Metals Corporation||ABML||USA||$461,237,963|
|Alpine 4 Technologies Ltd.||ALPP||USA||$449,390,829|
|Voyager Digital Ltd.||VYGVF||USA||$414,662,158|
|Argo Blockchain Plc||ARBKF||United Kingdom||$304,797,709|
|MIND MEDICINE MINDMED INC.||MMEDF||Canada||$259,859,233|
|Jushi Holdings Inc.||JUSHF||USA||$182,762,876|
|High Tide Inc.||HITIF||Canada||$159,093,359|
|RELIEF THERAPEUTICS HLDG AG||RLFTF||Switzerland||$158,967,185|
|American Lithium Corp.||LIACF||Canada||$146,852,718|
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
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