Why TRTC Could Go To $1.50 In 2018
TRTC Origins and Standings
Terra Tech Corp (OTCMKTS: TRTC) was founded in 2010, headquartered in Irving, California, and is among the original MMJ stocks listed on the OTC. The company listing was led by Derek Peterson, a former VP at Morgan Stanley, who saw the immense potential of MMJ and left Wall Street. TRTC is also the sole publicly traded MMJ company stock in the U.S. with business operations spanning the entire lifecycle of MMJ from growing, extraction, branding, and retail.
Terra has a $259.39 million market cap and reported annual revenue of $31.92 million, representing a quarterly revenue growth of 45.60%.
TRTC Business Operations
The business of TRTC is the design, marketing and selling of hydroponic equipment; the company utilizes proprietary technology in the creation of sustainable methods for indoor agriculture cultivation. TRTC accomplishes this work through a number of subsidiaries in California, Nevada and New Jersey.
The company’s operations are split into two sections: MMJ Products and Hydroponic Produce. The Products section consists of both MMJ and retail dispensaries, operating under the name Blüm, in California and Nevada. Featured products are a selection of MMJ offerings (i.e., concentrates, flowers, and edibles), but, this segment of TRTC also produces and sells its own line of MMJ cigarettes and flowers, in addition to a line of MMJ-extracted products (i.e., concentrates, vape pens, cartridges, and wax products).
Notable TRTC Subsidiaries
One of Terra’s notable subsidiaries is Edible Gardens, in New Jersey, established in 2007. Edible Gardens provides the supermarkets, food service industry, and restaurants with a selection of fresh, locally grown leafy greens and herbs. All produce is grown in a healthy and safe environment utilizing time-tested, classic Dutch methods of hydroponic farming.
Another subsidiary drawing attention is IVXX Elevate whose aim is to build a first-rate, recognizable brand across the legal markets in the United States; a brand known for providing consumers with MMJ and recreational products of superior quality and consistency. To accomplish this, TRTC opened its own lab, where IVXX branded MMJ products are created and sold in many dispensaries throughout California.
TRTC Aims to Move Up on the Stock Exchange
In addition to growth opportunities in the expanding U.S. industry, TRTC may attract the attention of more investors this year through a reverse stock split. As of mid-March, TRTC effected a 1-for-15 stock split among its outstanding common stock. The intention behind this reverse split was to increase TRTC’s common stock per share trading price in hopes of satisfying the minimum bid price requirements for listing up to one of the major stock exchanges.