38.2 F
New York
Monday, January 25, 2021

What This Bounce Means for Terra Tech Corp (OTCMKTS:TRTC)

Must read

American Battery Metals Corp (OTCMKTS:ABML) Hitting Key Milestones

Over the course of the past week, American Battery Metals Corp (OTCMKTS:ABML) has been in focus among investors after the company announced...

American Green Inc (OTCMKTS:ERBB) Stock Gains Momentum on Amazon News

One of the more interesting operators in the cannabis space in 2020 is American Green Inc (OTCMKTS:ERBB), and this week, the company...

DSG Global Inc (OTCMKTS:DSGT) Hits Multi-Month High On Sudden Optimism

DSG Global Inc (OTCMKTS:DSGT) has been in the news over the past week or so after the company placed large orders through...

AppYea Inc (OTCMKTS:APYP) Stock Gains Momentum on High Volume

Over the past couple of weeks, many stocks in the over-the-counter market have recorded considerable gains and one of the notable ones...

Terra Tech Corp (OTCMKTS:TRTC) is a penny stock that has started to re-engage some focus among traders and investors as prices get a little traction in bounce mode. The principal catalyst is the company’s latest press release wherein it announced its Dual Use Marijuana business licenses have been approved by the State of Nevada Department of Taxation. According to the release, this approval allows all four of the Company’s Blum cannabis dispensaries in Nevada to commence sales of cannabis for adult-use, starting Saturday, July 1, 2017.

In the past month of action, we’ve finally started to see some new upside in this stock, with a move of 12% added to share values of the listing, a bounce that has taken root amid largely bearish action over the larger time frame. The situation may be worth watching. TRTC is a stock who’s past is littered with sudden rips. In addition, the stock has benefitted from a jump in recent trading volume to the tune of 9% over the long run average.

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.

Find out when $TRTC stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, the company recently announced its Dual Use Marijuana business licenses have been approved by the State of Nevada Department of Taxation.

Derek Peterson, Chief Executive Officer of Terra Tech Corp., commented, “Today, Terra Tech’s cannabis operations have expanded from being purely focused on serving the needs of patients to encompassing the adult-use cannabis market in Nevada. Receiving our Dual Use Marijuana business licenses is a major milestone for the Company and we are proud that all four of our medical dispensaries were granted approval to enter the adult-use market. Our dispensaries will offer our proprietary IVXX brand of premium cannabis, flowers, shatters, waxes and oils, among other high-quality cannabis products from a range of reputable providers of superior grade medical and adult-use cannabis. As we roll out these products to the adult-use market we are committed to ensuring that medical cannabis patients will continue to receive superior service at our dispensaries.”

This is important because it shows investors that the company is finally getting involved on a primary level (not a secondary or tertiary level) in the recreational pot movement, because let’s face it: the big growth argument in the space is about the recreational shift.

Now commanding a market cap of $142.9M, TRTC has a significant war chest ($10.3M) of cash on the books, which stands against 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%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $TRTC stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!

Latest article

Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) Attempts To Rebound On Bullish Note

While the remarkable rally in Bitcoin has led to breathless speculation about its long term price, the recent rally in Grayscale Ethereum...

Sunhydrogen Inc (OTCMKTS:HYSR) Continues to Trend Higher on High Demand

One of the sectors to have come into significant focus among investors in recent times is the hydrogen...

Artificial Intelligence Technology Solutions (OTCMKTS: AITX) Moves Up Quickly On Solid Volume

The artificial intelligence industry has grown at a remarkable pace over the past half a decade or so and over the coming...

Signal Advance Inc (OTCMKTS:SIGL) Makes a Big Move, Again.

Speculation and confusion can often lead to strange occurrences on the stock markets and that is what happened...

Ozop Energy Solutions Inc (OTCMKTS:OZSC) Remains Volatile: Stock in Focus

Those who are looking to discover stocks that may have made big moves over the course of the past week could consider...