Terra Tech Corp (OTCMKTS: TRTC) experienced a high degree of volatility over the last year. Terra Tech Corp. operates through multiple subsidiary companies, which include Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology. One of Terra Tech’s wholly-owned subsidiaries, Edible Garden, cultivates a premier brand of local, and also sustainable, grown hydroponic produce. The subsidiary’s products are sold through major grocery stores, including WalMart, ShopRite, Meijer, and Kroger and other stores across multiple states.
The stock had a 52-week range between $0.15 and $0.75, as of Friday, March 10, 2017. The stock fell -2.05% over the past trading week. Moreover, Terra Tech Corp was down -5.88% over the last three months. The stock significantly underperformed its industry, which was up 1.18% during the same period. Additionally, the stock outperformed the farm and construction equipment industry, which has been up 36.77% over the past 52 weeks.
That being said, here’s why Terra Tech Corp (OTCMKTS: TRTC) could continue its rise over the short term. Terra Tech Corp has innovative technology and is pioneering the medicinal cannabis industry. The company has been investing its resources into researching in an attempt to understand extraction techniques, which would allow the company to efficiently and effectively create extracts to offer more targeted treatments for an array of various illnesses.
Moreover, the company is looking to feed the global population through environmentally-friendly and sustainable methods. That being said, the company could be ripe for growth in 2017 and 2018.
In more recent news, Terra Tech Corp., a vertically integrated cannabis-focused agriculture company, announced the construction of its new cultivation facility in California, on Tuesday, March 7, 2016. Terra Tech Corp. has a lease for a 13K square foot industrial space on over 30K square feet of land in Oakland’s industrial corridor. That in mind, the company is within reach of finishing up its designing of a state of the art cultivation facility, which is projected to produce over one metric ton of premium-grade cannabis per year, for its subsidiary, IVVX brand.
The construction of its new cultivation facility is expected to be finished by the end of the third quarter of 2017. Additionally, its full production capacity is expected to be reached by the end of the fourth quarter of 2017.
According to Terra Tech Chief Executive Officer (CEO) Derek Peterson, “This new facility will bring scale to our cannabis production capacity, representing yet another step towards increasing Terra Tech’s margins. We expect our expanded capacity to drive sales of our IVXX premium cannabis products in California, which is our leading market, as demand continues to strengthen.”
Additionally, Executive Director of Blum, a subsidiary company of Terra Tech Corp, Salwa Ibrahim, stated, “The Oakland City Building and Fire Departments have been great to work with as we finalize our design schematics. The City is forward thinking with respect to best in class construction practices, especially green building practices. We built on our experience from previous designs and projects to streamline this construction process as we expand our capacity to meet the burgeoning demand in the emergent cannabis industry.”
Prior to these comments, on February 28, 2017, Peterson 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.”
That in mind, many consumers and patients may flock to Terra Tech and its subsidiary brands, which could potentially generate more earnings for the company. Consequently, you’ll want to keep an eye on the developments in the space and Terra Tech Corp. To stay up to date on TRTC, sign up to our free newsletter to get the latest and greatest developments as they unfold. However, that free offer may change because we are contemplating going to a paid membership program. Enter your active email address into the box below and hit Subscribe Now for a limited time!