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Terra Tech Corp (OTCMKTS:TRTC) Bounces Back to Life

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Terra Tech Corp (OTCMKTS:TRTC)is trading up more than 20% today and there seems to be more room to grow for this cannabis service provider. TRTC mainly specializes in hydroponic equipment, but it does have a diversified portfolio outside of this. Edible Gardens, the company’s subsidiary, has been making some moves in the organic grocery sector, which is noteworthy.

But, one of the most interesting aspects of the company is their brand, Blum. The brand caters to dispensaries with high-quality cannabis as well as concentrates, which many consider the next phase of the cannabis industry.

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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TRTC continues to expand its product offerings and we expect as more cash to flood into this space the company could add another subsidiary. The company’s Edible Garden products are now available at Stop& Shop stores, which will bring in some nice revenues. The brand is grown by a co-op of local growers of fresh, hydroponic herbs whose process utilizes all natural, classic Dutch hydroponic farming methods providing customers with healthy and natural products. Derek Peterson, CEO of TRTC, commented, “Being selected by Stop & Shop, shows the level of trust and confidence in our Edible Garden’s products and further deepens our relationship by providing access to a greater number of the chain’s retail outlets. Our expanded relationship with key prominent grocery brands, like Stop & Shop and Giant, will increase the availability of organic, sustainable herbs and leafy greens to retail outlets within easy reach of millions of Americans.”

Trading at a market capitalization of $154.67M and a float of 66.82M, TRTC has a $5M in cash on the books and very few liabilities. TRTC is pulling in trailing 12-month revenues of $38.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 11.2%. 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.

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