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Traders Demonstrate Enthusiasm For Emerging Sectors In February

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 billio...

· 03/17/2021 08:41

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 (OTCQX:GBTC), followed by Grayscale Ethereum Trust (OTCQX:ETHE).

Also among the topmost actively traded securities were blockchain infrastructure company HIVE Blockchain Technologies Inc (OTCQX:HVBTF), and cryptocurrency mining company Hut 8 Mining Corp. (OTCQX: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 (OTCQX:GTBIF), Cresco Labs (OTCQX:CRLBF), Curaleaf Hldgs Inc. (OTCQX:CURLF), and Trulieve Cannabis Corp. (OTCQX:TCNNF).

U.S.-based cannabis company Medmen Enterprises Inc. (OTCQX: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.

OTCQB

CytoDyn Inc. (OTCQX: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 (OTCQB:ABML), Voyager Digital Ltd. (OTCQB:VYGVF), Argo Blockchain Plc (OTCQB:ARBKF), and Alpine 4 Technologies (OTCQ:ALPP) were all among the most traded securities on the OTCQB Market.

Retail-focused cannabis company High Tide Inc. (OTCQB: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.

OTCQX

Company Name Symbol Country February
Dollar Volume
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

OTCQB

Company Name Symbol Country February
Dollar Volume
CytoDyn Inc. CYDY USA $537,121,777
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

Photo by Jason Briscoe on Unsplash