Wednesday, July 7, 2021

Over-the-counter U.S. stocks point to fading speculation

Speculation in U.S. over-the-counter stocks appears to be fading, according to Maneesh Deshpande, a strategist at Barclays Plc. He cited the performance of the OTCQX and OTCQB composite indexes, consisting of companies that aren’t listed on the New York Stock Exchange or the Nasdaq Stock Market, in a report Tuesday. 


The OTCQX set a record on June 14 and then dropped as much as 4.3% through Tuesday, according to data compiled by Bloomberg. The OTCQB peaked on Feb. 16 and then fell as much as 20%. “Further pain is likely” in OTC shares as well as meme stocks and cryptocurrencies, Deshpande wrote.

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