OTC Markets Group Announces Quarterly Index Performance and Rebalancing

Rhea-AI Summary

OTC Markets Group Inc. (OTCM) reported a challenging second quarter of 2022, with its OTCQX Composite Index down 6.3%. The OTCQX Billion+ Index fell 15.7%, and the OTCQX Canada Index saw a significant decline of 36.4%. The OTCQX Dividend Index and the OTCQX U.S. Index dropped 13.6% and 39.8%, respectively. In total, 49 new companies joined the indices, while several were removed. The overall market sentiment remains bearish, with numerous indices showing substantial losses amidst ongoing economic pressures.

Positive

• 49 new companies joined the OTCQX Composite Index in Q2 2022.
• New companies included notable firms like Alumina Limited and Fortescue Metals Group Ltd.

Negative

• OTCQX Composite Index down 6.3% in Q2 2022.
• OTCQX Billion+ Index fell 15.7%.
• OTCQX Canada Index down 36.4%.
• OTCQX Dividend Index down 13.6%.
• OTCQX U.S. Index down 39.8%.
• OTCQX Cannabis Index decreased by 45.0%.
• OTCQB Venture Index down 35.0%.

NEW YORK, July 29, 2022 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated financial markets for 12,000 U.S. and global securities, today announced the second quarter 2022 performance and quarterly rebalancing of the OTCQX® and OTCQB® indexes, including the OTCQX Canada Index and the OTCQX Dividend Index.

The OTCQX Composite Index (.OTCQX), a benchmark for the overall OTCQX Best Market, was down 6.3% in Q2 2022. Forty-nine new companies joined the Index while fifty-six companies were removed. Electra Battery Materials Corp (ELBM) moved to NASDAQ on 4/27/2022. DecisionPoint Systems, Inc. (DPSI) went to NYSE MKT on 5/5/2022. I-80 Gold Corp. (IAUX) went to NYSE MKT on 5/19/2022. The Singing Machine Company (MICS) went to Nasdaq on 5/24/2022.

The OTCQX Billion+ Index (.OTCQXBIL), which tracks the performance of $1 billion-plus market cap OTCQX companies was down 15.7% in the second quarter. Five new companies joined the Index including Alumina Limited (OTCQX: AWCMY), Commercial International Bank Ltd. (OTCQX: CIBEY), Fortescue Metals Group Ltd (OTCQX: FSUMF), Lundin Gold Inc. (OTCQX: LUGDF), Sprott Physical Uranium Trust (OTCQX: SRUUF). Twelve companies were removed.

The OTCQX Dividend Index (.OTCQXDIV), which tracks dividend-paying U.S. and international OTCQX companies was down 13.6% in Q2 2022. Twenty-four new companies joined the Index, while sixteen companies were removed.

The OTCQX Banks Index (.OTCQXBK), comprised of OTCQX community and regional banks, The index is down 7.0% in the second quarter. Nineteen banks joined the Index and fourteen were removed.

The OTCQX International Index (.OTCQXINT), a benchmark for international OTCQX companies, was down 15.2% in Q2 2022. One hundred thirty-nine new companies joined the Index, while fourteen companies were removed. Electra Battery Materials Corp (ELBM) moved to NASDAQ on 4/27/2022. I-80 Gold Corp. (IAUX) went to NYSE MKT on 5/19/2022.

The OTCQX Canada Index (.OTCQXCAN), which tracks Canadian OTCQX companies down 36.4% in the second quarter. Thirty new companies joined the Index, while twenty companies were removed.

OTCQX U.S. Index (.OTCQXUS), a benchmark for U.S. OTCQX companies, The Index is down 39.8% in Q2 2022. Twenty new companies joined the Index while twenty-five companies were removed.

OTCQX Cannabis Index (.OTCQXMJ), a benchmark for cannabis companies, was down 45.0% in Q2. Five new companies joined the Index, while five companies were removed.

The OTCQB Venture Index (.OTCQB), which tracks the overall OTCQB Venture Market, was down 35.0% in the second quarter. One hundred two companies were added to the index while one hundred twenty-five were removed. Iveda Solutions, Inc. (IVDA) went to NASDAQ on 4/1/2022. John Marshall Bancorp, Inc. (JMSB) went to NASDAQ on 4/27/2022. SOBR SAFE Inc. (SOBR) went to NASDAQ on 5/16/2022. 374Water Inc. (SCWO) went to NASDAQ on 6/14/2022. Connexa Sports Technologies Inc. (CNXA) went to NASDAQ on 6/15/2022. Additionally, thirteen securities went from OTCQB to OTCQX in Q2 and are now included in at least one of the OTCQX Indices.

For a list of all index additions and deletions, visit
https://www.otcmarkets.com/files/Quarterly_Index_Constituent_Changes.pdf

All indexes are market capitalization-weighted and adjusted on a quarterly basis for additions and share changes over 5% during the months of March, June, September and December. In the case of ADRs, the DR ratio is considered. Dividends are re-invested as of the close of business the day before the ex-dividend date.

The OTCQX Composite Index, OTCQX Billion+ Index, OTCQX Dividend Index, OTCQX International Index, OTCQX U.S. Index, OTCQX Banks Index, OTCQX Cannabis Index, and OTCQB Venture Index have minimum liquidity screens to ensure tradability.

All index data is priced in real-time and is available on the OTC Markets Group website, www.otcmarkets.com, and via major financial data distributors and websites, including Bloomberg, Reuters and FT.com.

Past performance does not guarantee future results. Investors cannot invest directly in any of these indexes.

OTC Markets Group Inc. provides no advice, recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

What was the performance of the OTCM indexes in Q2 2022?

In Q2 2022, the OTCQX Composite Index fell by 6.3%, while the OTCQX Billion+ Index dropped by 15.7%. Most indices reported significant declines.

How many companies joined the OTCM indices in Q2 2022?

A total of 49 new companies joined the OTCQX Composite Index in Q2 2022.

What are the notable declines in OTCM indices for Q2 2022?

The OTCQX Canada Index saw a decline of 36.4%, and the OTCQX U.S. Index decreased by 39.8%.

How did the OTCM perform compared to previous quarters?

The performance in Q2 2022 was notably negative with all major indices declining significantly.