Terra Tech Corp (OTCMKTS:TRTC) is a penny stock in the cannabis patch that we turned bearish on several months ago, citing a major potential for a bearish break under the $0.22 level. That move has come and gone and it’s time to take stock of what we have at hand at this point with TRTC shares trading under $0.17.
First and foremost, what one has with TRTC shares is its CEO, Derek Peterson. Mr. Peterson again returns to the spotlight, according to the company’s latest press release, as the company just announced its Chief Executive Officer, “Mr. Derek Peterson, has been chosen as a panelist at both the Cannabis World Congress & Business Expo, and the 6th Annual Marcum Microcap Conference, to be held on Thursday, June 15, 2017 in New York City.”
Terra Tech Corp (OTCMKTS:TRTC) has positioned itself in the cannabis space as a company that engages in the design, marketing, and sale of hydroponic equipment with proprietary technology to create sustainable solutions for the cultivation of indoor agriculture in Newport Beach and Irvine, California.
It operates through two segments, Hydroponic Produce and Cannabis Products. The company offers environmental controllers and timers; ballasts; bulbs; reflectors; nutrients; and portable hydroponic trailers and The Big Bud and Little Bud, which are custom fabricated proprietary cultivation systems for horticulture enthusiasts, local urban farmers, and greenhouse growers
Terra Tech Corp also operates as a retail seller of hydroponic produce, herbs, and floral products, which are distributed in the Midwest and the Northeast United States; and produces and sells a line of cannabis flowers and cigarettes, as well as a line of cannabis pure concentrates, including oils, waxes, shatters, and clears to dispensaries in California.
TRTC operates through multiple subsidiary businesses, including Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology.
Blum’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blum offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations.
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As we discussed above, the stock’s recent technical breakdown puts a lot into question with TRTC. But the experience and status of its leadership is clearly still a core asset. For a vertically integrated player in an emerging commodity market, that is not a factor to be overlooked.
Mr. Derek Peterson, Chief Executive Officer of Terra Tech, commented, “Terra Tech has positioned itself to harness the growth in the legal cannabis market by establishing cultivation, extraction and retail operations across both the California and Nevada markets. As a result of the breadth of our operations, we have deep insight into the various complexities of the cannabis market, as well as keen awareness of the opportunities for innovative companies in the space. I am honored to be asked to speak about the future of cannabis at these conferences in order to increase Terra Tech’s exposure to investors, media and other key players in the industry.”
At The Cannabis World Congress & Business Expo, Mr. Peterson will speak on the panel “Finding Rewards in a Risky Environment” at 10:00 AM Eastern Time on Thursday, June 15, 2017. Throughout this session, the panelists will discuss opportunities that are currently in the marketplace as well as those on the horizon while navigating uncertainty in the market.
Traders will note the stock’s sideways action over the past week. While the overall tone has been bearish – which we anticipated for the Spring – the stock does have a long and well-documented history of dramatic bounces and rallies, so one shouldn’t count this stock out by any stretch. Furthermore, TRTC has seen interest climb, with an increase in recent trading volume of 16% over the long run average.
Earning a current market cap value of $100.2M, TRTC has a significant war chest ($10.3M) of cash reported on the books, which must be weighed relative to about $505K in total current liabilities. TRTC is pulling in trailing 12-month revenues of $30.6M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 340.8%. We will update the story again soon as further details emerge. For continuing coverage on shares of $TRTC stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!