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Could Terra Tech Corp (OTCMKTS:TRTC) Be a Bear Trap in the Making?

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Shares of Terra Tech Corp (OTCMKTS:TRTC) recently broke to new all-time lows as investors start to grapple with serious convertible debt and topline contraction concerns. But the question out there right now is whether or not this is something of a “value” play in the cannabis patch. It seems like an oxymoron, but it can’t be ignored at this stage. To further drive color into the story, the company just announced that Mayor Pauline Cutter of San Leandro, CA will speak at Terra Tech’s grand opening of its Blüm San Leandro medical cannabis dispensary. According to the release, the ribbon cutting ceremony will take place from 9:30 AM to 11:00 AM on January 11th, 2019 at the dispensary located at 1915 Fairway Drive San Leandro, CA, 94577.

The company further noted that “Terra Tech’s Blum San Leandro dispensary will make history as the first medical dispensary to open its doors in San Leandro, a prominent suburb city of San Francisco and Oakland, centered in the dynamic San Francisco Bay Area. With a vibrant community of more than 89,000 residents, San Leandro is known for its well-maintained neighborhoods, excellent public libraries, twenty-one public parks, quality local schools, and a wide range of shopping, dining, and entertainment options. The City also encompasses a large industrial area that is home to an advanced manufacturing industry. The Company is also constructing an extraction facility in San Leandro, which it expects to open in early 2019.”

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 just announced that Mayor Pauline Cutter of San Leandro, CA will speak at Terra Tech’s grand opening of its Blüm San Leandro medical cannabis dispensary. In all, the chart shows flat action for share values of the company over the past week of action.

In addition, the stock has registered increased average transaction volume recently, with the past month seeing 26% beyond its prior sustained average level. It will be interesting to see if the stock can break out of its recent sideways action. Over the past week, as noted above, the stock is net flat and looking for something new to spark things.

Chief Executive Officer, Derek Peterson, said, “San Leandro will be a great location for Terra Tech’s new medical cannabis dispensary as the city has proven to be an expanding hub of innovation and business. Having a dispensary up and running in San Leandro is the perfect way to start off 2019 by increasing Terra Tech’s distribution channels in such a sought-after location. I will be speaking alongside Mayor Cutter at the event where I will touch upon the significance of this location and how it will help accelerate the growth of our company.”

At this time, carrying a capital value in the market of $50.13M, TRTC has a significant war chest ($3.4M) of cash on the books, which stands against about $7.7M in total current liabilities. TRTC is pulling in trailing 12-month revenues of $35.4M. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -30%. We will update the story again soon as developments transpire. 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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