Even in what has been a notoriously high-volume sector, March was a particularly strong month for cannabis securities that trade on OTC Markets.
Six of the top 10 most active securities in March on the OTCQX Best Market, the top trading tier, were cannabis companies.
Investors were likely cheering the bevy of positive headlines that came out of the industry throughout the month. Despite New Jersey canceling a vote on whether to legalize the drug, cannabis took a big step forward in March with the SAFE Banking Act. The bill, which would allow financial institutions to work with marijuana businesses, advanced to markup in the House Financial Services Committee. This is the furthest a cannabis-related banking bill has ever advanced in Congress.
On top of that, legendary hedge fund manager Nelson Peltz gave one of the biggest endorsements of cannabis investing to date when he joined the board of Aurora Cannabis Inc. ACB.
The top 10 most active securities on the OTCQX and OTCQB Markets are listed below. What’s interesting is how large the month-over-month increases in volume were for some of these securities. Curaleaf Holdings Inc. CURLF had nearly $179 million in dollar volume in March, a 1,023 percent increase from February.
Green Organic Dutchman Holdings Ltd. TGODF traded over $134 million in dollar volume, a 107 percent increase from February. Additionally, CV Sciences, Inc. CVSI saw a 168 percent month-over-month increase in volume on the OTCQB Venture Market.
Rounding out the most active securities on the OTCQX Market, Organigram Holdings, Inc. OGRMF, Charlotte’s Web Holdings Inc. CWBHF, Acreage Holdings Inc. ACRGF, and Medmen Enterprises Inc. MMNFF combined for over $435 million in dollar volume last month.
Other Most Active OTCQX And OTCQB Securities In March
Cannabis isn’t the only industry represented among the most active OTCQX and OTCQB securities in March. As we’ve seen in past months, multi-nationals like Roche Holding Ltd RHHBY, BNP Paribas BNPQ, and Danone DANOY were among the most-active securities for the month, as was the Grayscale Bitcoin Trust (BTC) GBTC.
Multiple common and preferred share classes of mortgage liquidity providers Fannie Mae FNMA, and Freddie Mac FMCC were highly traded as well, continuing a recent theme.
March’s Top 10 Most Active OTCQX Securities
| Company Name | Country | March Dollar Volume |
| Roche Holding Ltd RHHBY | Switzerland | $625,451,329 |
| Grayscale Bitcoin Trust (BTC) GBTC | U.S. | $184,040,339 |
| BNP Paribas BNPQY | France | $182,954,009 |
| Curaleaf Holdings Inc. CURLF | U.S. | $178,986,927 |
| Green Organic Dutchman Holdings Ltd. TGODF | U.S. | $134,445,532 |
| Organigram Holdings, Inc. OGRMF | Canada | $119,163,368 |
| Danone DANOY | France | $113,653,691 |
| Charlotte's Web Holdings Inc. CWBHF | U.S. | $112,221,863 |
| Acreage Holdings Inc. ACRGF | U.S. | $104,114,909 |
| Medmen Enterprises MMNFF | U.S. | $100,063,955 |
March’s Top 10 Most Active OTCQB Securities
| Company Name | Country | March Dollar Volume |
| Fannie Mae FNMA | U.S. | $327,891,379 |
| Fannie Mae FNMAS | U.S. | $220,132,923 |
| Freddie Mac FMCKJ | U.S. | $201,042,290 |
| CV Sciences, Inc. CVSI | U.S. | $182,785,470 |
| Freddie Mac FMCC | U.S. | $144,340,448 |
| KushCo Holdings, Inc. KSHB | U.S. | $68,245,812 |
| Freddie Mac FMCKM | U.S. | $56,735,988 |
| NaturalShrimp Incorporated SHMP | U.S. | $50,444,586) |
| Fannie Mae FNMAN | U.S. | $30,313,950 |
| MPM Holdings Inc. MPMQ | U.S. | $28,017,408 |
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