Traders Piled Into Cannabis, Crypto, and Gold Securities On OTC Markets In August

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.

Dollar volume on the OTCQX Market rose roughly 8.6% in August from July, with much of that increase coming from heightened trading activity in a select number of industries. 

Of the top 30 most actively traded securities on the OTCQX Market last month, the names with the greatest month-over-month increases in volume all fit into three buckets: cannabis, crypto, and gold. 

North and South American mining company GoldMining Inc. GLDLF experienced the greatest increase from July to August, as dollar volume rose 344%. Grayscale Digital Large Cap Fund LLC GDLC followed with a 312% monthly increase, while Trulieve Cannabis Corporation TCNNF and Green Thumb Industries Inc. GTBIF increased 163% and 112% respectively. 

The pattern is hardly a surprise. In an industry buoyed by the fact that many dispensaries were allowed to remain open during quarantine, Trulieve and Green Thumb have been among the best-performing cannabis companies this year. Both companies have seen their shares rise over 300% from the bottom in mid-March.

And with the major indexes rising to new all-time highs in the midst of a global pandemic, some investors have sought alternatives to U.S. equities—such as gold and cryptocurrencies. Along with GLDC, the Grayscale Bitcoin Trust GBTC and Grayscale Ethereum Classic Trust ETCG also saw dollar volume rise 31% and 45% respectively during the month. 

In all, two of the top three most actively traded securities on OTCQX in July were crypto-related securities from Grayscale, and five of the top 10 are involved in cannabis. 

The list of the top 10 most active securities for the OTCQX Market is below. Cannabis companies are denoted with an asterisk.

OTCQB

On the OTCQB Venture Market, DSG Global Inc DSGT, GreenPower Motor Company Inc. GPVRF, and Galaxy Next Generation, Inc. GAXY experienced the greatest month-over-month dollar volume increases. 

The list of the top 10 most active securities for the OTCQB Market is below.

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.