logo-loader
viewOTC Markets Group Inc

OTC Markets Group launches its own Cannabis Index

The Green Organic Dutchman is among 30 companies in the index, which accounts for about a quarter of total year-to-date volume in OTCQX Market securities

cannabis
Some 56 cannabis-related securities trade on OTC Markets Group’s premium OTCQX Best Market

The OTC Markets Group Inc (OTCQX:OTCM) announced Tuesday it has launchied the OTCQX Cannabis Index that will track the performance of 30 companies trading on the OTCQX Best Market.

The new index will help investors target the diversity of high-quality cannabis companies that meet the financial, disclosure and corporate governance standards required to trade on the OTCQX Best Market, according to a statement.

OTC Markets Group said the 30 cannabis companies in the new index account for more than 25% of total year-to-date volume in OTCQX Market securities. All told, roughly 56 cannabis-related securities trade on OTCQX Best Market.

Among the members of the new index:

“The exponential growth in publicly-traded cannabis securities underscores the willingness of these companies to provide efficient trading and enhanced disclosure for investors,” said Jason Paltrowitz, executive vice president of corporate services at OTC Markets Group. “The OTCQX Cannabis Index provides another tool for the investing public to better identify, measure and track the performance of this global industry as it progresses over time.”

The base date of the OTCQX Cannabis Index is as of April 1, and the base index level is 1,000. The index divisor is adjusted on an ongoing basis to maintain the continuity of the index return through time. The index will be rebalanced on a quarterly basis in March, June, September and December.

The New York-based operator of financial markets said there are over 450 securities from 27 countries traded on OTCQX Best Market. Eligible securities for the OTCQX Cannabis Index must be traded on OTCQX, be identified as having operations in the cannabis space, and meet a minimum liquidity screen. 

In addition to the OTCQX Best Market, OTC Makets Group also operates the OTCQB Venture Market and the Pink Open Market for 10,000 US and global securities.

The new index can be accessed here. It trades under ticker (OTCQXMJ).

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: OTC Markets Group Inc

Price: 34.1 USD

OTCMKTS:OTCM
Market: OTCMKTS
Market Cap: $397.32 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of OTC Markets Group Inc named herein, including the promotion by the Company of OTC Markets Group Inc in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Buds & Duds: Pot stocks stay quiet a year following cannabis legalization in...

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada rose 1.2% to 139 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF gained 1.8% to C$10.81, while the OTCQX Cannabis Index added 1.9% to 515.9 points.  Buds...

3 weeks, 4 days ago

2 min read