Shares of Terra Tech Corp. (OTCMKTS: TRTC) increased 4.88% yesterday, after some positive comments came out relating to the marijuana industry. According to story out of Politico, Attorney General Jeff Sessions does not plan on deviating from past administration policy of allowing states to govern marijuana laws. The stock price over the last five trading days is down more than 10% According to OTC Markets, the stock has traded around 4.58M shares per day, over the last 30 days. However, just 2.6M shares traded yesterday. The stock price closed at $0.2664, up $0.0124 on the session.
Terra Tech Corp (OTCMKTS:TRTC) is a company devoted to producing high-quality medical marijuana for those seeking alternative treatments for their ailments The company is one we’ve been monitoring consistently, the last time we covered the name was on February 27, 2017. Believe it or not, the stock price is actually down about 17% year to date. Not only that, but historical volatility is relatively low at the moment. According to our proprietary volatility estimators, the 30-day historical volatility is currently 93.67% annualized compared to the median of 129.52%.
With that said, if volatility mean reverts, we could see Terra Tech Corp. (OTCMKTS: TRTC) volatility pick up. Based on the close yesterday, the company had a market cap of $151.6M. In addition, there are more 357M shares floating as of October 28, 2016.
About Terra Tech Corp.
Terra Tech Corp. 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. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces medical cannabis-extracted products for regulated medical cannabis dispensaries throughout California. The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Winn-Dixie, Raley’s, Meijer, Kroger, and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. Terra Tech’s MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada. The Company’s wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies.
Most Recent Headline:
Terra Tech Provides Progress Update on San Leandro, CA Dispensary and Production Facility
NEWPORT BEACH, CA–(Marketwired – February 28, 2017) – Terra Tech Corp. (TRTC) (“Terra Tech”) or (the “Company”), a vertically integrated cannabis-focused agriculture company, today provided a progress update on its dispensary and production facility in San Leandro, California. The Company announced in October 2016 that its Blüm subsidiary had been granted a license by the City of San Leandro, California, to open a new retail facility.
After receiving the license from the city of San Leandro, Terra Tech executed a lease for 13,300 square feet of industrial space in San Leandro’s industrial corridor. The company is in the final stages of designing both a dispensary and cutting edge production facility, in addition to a community meeting space. Demolition of the interior space was completed on January 20, 2017. The Company is currently awaiting final approval of its Conditional Use Permit and Building Permit from San Leandro’s Planning and Building Departments. The company expects to complete construction of the dispensary by the end of the third quarter of 2017 and be open to the public by the fourth quarter of 2017. The production lab and community meeting space are anticipated to be completed in the fourth quarter of 2017 and at full production capacity by the end of the first quarter of 2018.
Derek Peterson, Terra Tech Chief Executive Officer, stated, “California is our largest market and we are pleased to expand our footprint into San Leandro, a city that is on the move and an upcoming hub of innovation. The new Blüm retail location will not only supply a range of superior grade medical cannabis products from a multitude of reputable providers, but it will also be supported by a new, state-of-the art production facility which will increase the availability of our proprietary IVXX™ brand of premium medical cannabis, flowers, shatters, wax and oils.”
Salwa Ibrahim, Executive Director of Blum, commented, “This was a long permitting process but we couldn’t be more happy to be building a new facility here that we can all be proud of. This expansion is yet another step in our evolution into a nationwide provider of superior grade product and we look forward to issuing further updates as we make continue to make progress with construction work at this location.”
To be added to the Terra Tech email distribution list, please email TRTC@kcsa.com with TRTC in the subject line
Marijuana related stocks have been on fire in 2017. However, TRTC has not participated in the rally, yet. Historically speaking, volatility in the name is relatively low. Will these recent comments out of the Attorney General be the catalyst they needed? If you’d like to stay in the know on TRTC and other marijuana related stocks, make sure to sign up to our newsletter below. It’s one of the best ways to stay in the loop with all that’s going on with marijuana and other OTC stocks.