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Saturday, January 23, 2021

Terra Tech Corp (OTCMKTS:TRTC) Vertically Integrated Cannabis Co

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Terra Tech Corp (OTCMKTS:TRTC) is a stock that’s been powering in an uptrend that should be seen as more or less analogous to a raft floating in a swimming pool as the pool is first filled: Shares are floating higher in accord with the growth expected for the company as a direct result of a widening legal sales footprint.

With the widely anticipated vote now just a few days away, investors have been flocking to stocks in the cannabis space, and TRTC is no different. We have seen interest climb sharply, booking gains of 26% over the past month on an increase in trading volume of just shy of 120% over the long run average. That’s not bad. But in a group that has seen typical moves in similar plays of 200-2000%, it’s hardly eye-catching. That said, as we will discuss below, this is certainly one of our favorite plays in the space if you are talking about gains after November 8.

Terra Tech Corp (OTCMKTS:TRTC) trumpets itself 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.

It 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.

IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces medical cannabis-extracted products for regulated medical cannabis dispensaries throughout California. The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Winn-Dixie, Raley’s, Meijer, Krogers, and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest.

Terra Tech’s MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada. The Company’s wholly-owned subsidiary GrowOp Technology specializes in controlled environment agricultural technologies.

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The key to understanding this company is really this: TRTC is the only fully vertically integrated cannabis company. They do it all. They develop new strains, cultivate, warehouse, wholesale, and retail. They also have co-product markets to profit from process synergies, including small produce sales.

As we noted in our last report, according to two independent polls in September, as well as multiple polls in October, California is very likely to end up resolving to legalize marijuana for recreational purposes in a few days. According to Cowen & Co., that will likely end up instantly tripling the size of the legal cannabis market in the US, moving the needle from about the $6.5 billion into something closer to $20-23 Bln.

Given that Terra Tech Corp can command higher margins on volume sales of that market as a consequence of integrated operations, one would think this stock might fare better when the crowd slides down the other side of this mountain as interest in the story starts to fade a bit after the voting, even in the best case scenario.

Now commanding a market cap of $227.3M, TRTC has a decent store ($1.67M) of cash on the books, with total assets a bit less than $67M, which stands against an appreciable load ($2.19M) of total accumulated debt.

Bottom line is TRTC is making real money, with trailing revs already coming in at $15.44M. We would also point out that this is coming along with major topline growth, with quarterly y/y revs increasing at 93%. In a world of blazing bright pot stocks flashing across the sky, Terra Tech Corp is probably one of the few that has real meat on the bone. 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!

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