Terra Tech Corp (OTCMKTS:TRTCD) Finds New Strength on Trump’s Support of States’...

Terra Tech Corp (OTCMKTS:TRTCD) Finds New Strength on Trump’s Support of States’ Rights

SHARE

Terra Tech Corp (OTCMKTS:TRTCD) took flight on Friday in response to news that the White House, behind Pres. Trump, had decided to clarify its stance on marijuana and cannabis. Colorado Republican Senator Cory Gardner reported on an assurance from the president that he would back up the rights of individual states to make their own determination where laws around marijuana and cannabis are concerned.

“Since the campaign, President Trump has consistently supported states’ rights to decide for themselves how best to approach marijuana,” Gardner said in a statement Friday. “President Trump has assured me that he will support a federalism-based legislative solution to fix this states’ rights issue once and for all.”

Terra Tech Corp (OTCMKTS:TRTCD) 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.

TRTCD 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, TRTCD 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.

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

As noted above, shares of the stock blasted higher to close this week in response to new information from the federal government about how it planned to deal with the complex issue of the interplay between federal laws in state laws regarding cannabis and marijuana. Ultimately, Pres. Trump decided to oppose his own attorney general, Jeff Sessions.

This plays into a number of running narratives for the stock, including its recent earnings results, which suggests some interesting trends that may ultimately be even more important than the back and forth between lawmakers in Washington DC.

“In California, we currently have dispensary operations in Oakland and Santa Ana, and are continuing to build out another dispensary in San Leandro as well as cultivation and extraction facilities in the state. We are encouraged by our progress establishing recognizable brands, a loyal customer base and developing extensive cultivation capabilities, which we expect to allow for the production of up to 20,000 pounds of cannabis per year, when complete. As the U.S.’s largest state by population, California represents a major market for us. A recent report from BDS Analytics estimates California sales of cannabis to hit $3.7 billion by the end of 2018, and to increase to $5.1 billion in 2019. In Nevada, we have four dispensary operations across Reno and Las Vegas, supported by new cannabis cultivation and extraction facilities in Sparks and Reno, through agreements with NuLeaf. Cannabis analytics firm New Frontier projects Nevada’s total cannabis market to be $622 million by 2020 and we are excited by the opportunity to participate in its growth,” continued Mr. Peterson.

At this time, carrying a capital value in the market of $166.7M, TRTC has a significant war chest ($5.4M) of cash on the books, which stands against virtually no total current liabilities. TRTC is pulling in trailing 12-month revenues of $35.8M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 54.5%. You can bet we will update this one again as new information comes into view. 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.

Sign Up for our 100% FREE Oracle Dispatch Newsletter