Terra Tech Corp (OTCMKTS:TRTC) recently came off an Expo in New Orleans. The Fresh Summit Exposition, hosted by the Produce Marketing Association has 19,500 attendees from 60+ countries and 1,000 exhibitors, to discuss trends, form valuable contacts and fuel new and profitable opportunities. TRTC was down by 4.1% in Thursday’s trading session to end the day at $0.18 a share.
“Edible Garden has long prided itself on using the safest standards and most energy-efficient technologies available to produce high quality, healthy produce. Its range of fresh herbs and leafy greens, which are locally-grown using sustainable farming practices, have made it a popular choice for health-conscious and environmentally aware consumers across the United States,” said COO, Ken, Vande Vrede. Hannaford supermarket and Sweetgreen restaurants have already selected Edible Green to supply some of their retail outlets with locally grown herbs and leafy greens. The agreement is a milestone achievement given that Hannaford boasts of over 180 stores servicing the greater New England area. Sweetgreen, on the other hand, comes with 75 outlets spread across eight states. The two retail chains should strengthen TRTC’s bid to expand its footprint across the United States.
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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Separately, Terra Tech has inked a second Craft Cultivator for growing its proprietary high-grade IVXX cannabis flowers and oils. Located in Salinas, California, the farm is approved for up to 6 acres of cannabis cultivation that is to be grown in high tech climate controlled greenhouses.
Sporting a current market cap value of $114.61M, 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%. We will update the story again soon as further details emerge. 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.