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Tuesday, September 22, 2020

Terra Tech Corp (OTCMKTS:TRTC) Continues to Diversify Exposure

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Terra Tech Corp (OTCMKTS:TRTC) is a penny player that is becoming a more and more diversified and simultaneously integrated part of the cannabis patch. TRTC launched higher over the Summer following a major break lower in the Spring. We have seen roughly sideways action over the very long term, so investors are likely looking for a new catalyst. In that vein, the company just announced that its subsidiary, Edible Garden, “a nationwide provider of fresh, locally-grown herbs and leafy greens”, continues to expand its product range with the launch of a new line of fresh-cut herbs, under the name ‘Snip Its’, for individuals seeking out healthier salad alternatives that are free of genetically modified organisms.

This announcement is part of the company’s non-cannabis business. At this point, the company has not fully executed with this brand. Shares of the stock also appear to be disappointed in recent action, with a descending triangle under construction following the stock’s Summer rip.

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.

TRTC 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

Additionally, TRTC 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.

The company 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 noted above, TRTC expanded its non-cannabis product offering with a new herbs and spices fresh/organic product from its Edible Garden brand. However, the market has been unimpressed. We see the effort as good for a long-term diversification play – often an essential piece of the institutional money flows puzzle. However, execution is still an open question.

“We launched the new line of fresh-cut herbs to meet the growing consumer demand for fresh, nutritious, non-GMO salad products,” commented Mr. Derek Peterson, Chief Executive Officer of Terra Tech Corp. “Keeping with our tradition of locally and sustainably grown herbs and produce, the fresh-cut herbs are grown using absolutely zero harmful pesticides. According to the Illinois based research firm Nielsen, sales of food labeled ‘non-GMO’ grew more than $8 billion from 2012 to 2016, reaching nearly $21.1 billion in total sales. We will continue to expand our product range within this category as we grow the Edible Garden brand, which is known for its natural, fresh and good quality produce.”

We’ve witnessed 2% during the past month in terms of shareholder gains in the name, a bounce that has taken root amid largely bearish action over the larger time frame. Market participants may want to pay attention to this stock. TRTC has a history of dramatic rallies. Furthermore, the stock has seen an influx in interest of late, with the stock’s recent average trading volume running 13% over what the stock has registered over the longer term.

Currently trading at a market capitalization of $146.7M, TRTC has a significant war chest ($9.1M) of cash on the books, which is balanced by about $576K in total current liabilities. TRTC is pulling in trailing 12-month revenues of $28.7M. However, the company is seeing declines on the top line on a quarterly y/y basis, with revenues falling at -19.1%. This may be a very interesting story and we will look forward to updating it again soon.  Sign-up for continuing coverage on shares of $TRTC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: We hold no position in $TRTC, either long or short, and we have not been compensated for this article.

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