Found it hard to belive the famed investor was on CNBC saying a $1.40 over the counter stock was one his big picks. As Yogi would say,"It's Deja VU all over again'
These Were The Best-Performing Stocks On The OTCQX Market In 2018
Toronto-based mining company Largo Resources Ltd. (OTCQX: LGORF) was the top-performing company on the OTCQX Best Market (the highest tier of OTC Markets) in 2018.
Largo shares finished 2018 up 93 percent with an 8,449 percent year-over-year increase in average daily dollar volume. That was good enough to make it the No. 1 stock on the 2019 OTCQX Best 50, OTC Markets’ annual ranking, based on an equal weighting of one-year total return and average daily dollar volume growth, of the best-performing stocks of the 410 that trade on the market.
The stock got a big boost on July 24, after famed investor Leon Cooperman mentioned the company as a new long idea in an interview on CNBC. That headline kickstarted a nearly 160 percent rise in the stock’s price to $3.56 on November 9, a seven-year high.
Overall, the 2019 OTCQX Best 50 companies delivered an average total return of 21 percent and traded $19.3 billion in dollar volume in 2018. Twenty-six of the companies are cross-traded on foreign exchanges, with 11 coming from Canada alone.
Here are some other highlights:
Local Banks Dominate
There are 16 regional and community banks included in the 2019 OTCQX Best 50 list, including Lyons Bancorp, Inc. (OTCQX: LYBC) (up 15.7 percent), Marquette National Corp. (OTCQX: MNAT) (up 11.8 percent), and Fentura Financial, Inc. (OTCQX: FETM) (up 11.2 percent). This strong stock performance, coupled with a rising rate environment, is partly why so many regional and community banks have IPO’d in the last year.
