Terra Tech Corp (OTCMKTS: TRTC) has finally started the sale of cannabis to the city of San Leandro’s adult use market. The vertically integrated cannabis-focused agriculture company is now fully licensed to carry out its operations.
Some would have previously gone as far as saying that Terra Tech as a disappointment was merely an understatement citing shareholder dilution as well as bad management as the reason.
However, going as per the recent activities, the firm is relatively on track to recovery.
TRTC Price Struggle
The company is a marijuana stock that has a strong focus on cannabis cultivation and has the objective to provide the highest quality of cannabis and other agricultural products. However, the firm has experienced some difficulties, especially in the second half of this year which affected its price strongly.
So, the price has dropped. In January, TRTC price was at $1 after which it surged again during February and reached $1.5 at March 10.
Another drop occurred which was, however, fought by stronger support levels. One was at $1.1 then followed by spike up. As of May 6, the TRTC price reached $0.78 and has shown some small increase with today the price reaching $0.79.
Terra Tech Corp Overview
First up, Terra Tech Corp. operates through several subsidiary businesses including IVXX Inc., Edible Garden, and MediFarm LLC. Medical cannabis facilities and Blum’s retail provide best quality medical cannabis to all patients looking for alternative treatments for chronic medical conditions.
IVXX, Inc. is a fully-owned subsidiary of the firm producing cannabis-extracted products for all regulated medical dispensaries in California and medical plus adult-use dispensaries in Nevada.
Edible Garden cultivates also a premier brand of local as well as sustainably grown hydroponic produce.
The String of Positive News
2019 has seen the firm being held back as a result of a series of negative items such as the lawsuit against the firm by Heidi Loeb Hegerich regarding the history of inaccurate bookkeeping practices as well as filling deceptive financial results.
Another was Golden Leaf Holdings Ltd (OTCMKTS: GLDFF) calling off its merger with the company.
However, the firm is now breathing fresh air. First, it’s the latest commencement of adult-use market sales in San Leandro. The firm received approval on March 19 this year from the San Leandro City Council on the adult use sales. On May 2, the state approved the local authorization whereby they issued a provisional adult and medical license.
Furthermore, the firm owns a significant collection of assets. For instance, stockholders’ equity for the last quarter of 2018 amounted to about $93.1 million which is an increase from that of 2017 that was $78.8 million.
Moreover, the firm is prepared for the increased demand for legal recreational cannabis as they a month ago announced the completion of the renovation of the cultivation facility in Oakland. The facility will be producing more than 1,120 pounds of marijuana each year.
Their Own Words
According to Chief Executive Officer, Derek Peterson, the announcement marks a significant opportunity that will open the firm’s total addressable market as well as help in driving substantial sales growth in the San Leandro location.
The main objective here is to provide significant support for the local community as well as bring the much-needed medical cannabis to the patients in the area. As per Derek, this is a dream come true which has only started.
Blum offers a wide variety of cannabis products which includes flowers, edibles and concentrates via its several California and Nevada locations. Nevertheless, Terra Tech Corp. is now in the right direction and likely to help increase its stock price.
Looking at the Future of Terra Tech stock
Undoubtedly, not even a single investor should be blamed for running in December when the firm was not in its best. However, since then, the issues have been resolved to vindicate the company.
With everything on the table, Terra Tech is still a financially stable cannabis firm having an ever-growing presence in California which is the most significant legal cannabis market in North America.
Literally, things are setting up for Terra Tech stock, and 2019 could be the year that the firm may finally reward the patient TRTC stock investors that weathered 2018.
For the latest updates on TRTCJ and other MJ stocks, sign up below!
Disclosure: We have no position in TRTC and have not been compensated for this article.
What Do Investors See In Medical Marijuana Stock (OTCMKTS:MJNA)?
Medical Marijuana Stock (OTCMKTS:MJNA) has emerged as one of many investor’s favorite pot stocks in the legal cannabis universe in 2020. The stock is already up about 10% in 2020, demonstrating how investors have warmed up to the stock early on in the New Year.
Following a disastrous 2019, cannabis investors lost money but have also learned that their best bets are stocks with strong fundamentals. They are looking for companies that have positioned themselves well in the cannabis industry and have what it takes to go for the opportunities. That is why MJNA stock is catching a lot of investor attention in 2020 because of how it has positioned itself in the cannabis market.
Robust revenue growth and strong financial position have also helped put MJNA on the radar of investors hunting for quality cannabis stocks. Revenue at MJNA more than doubled from $26.5 million in 2017 to $60 million in 2018. MJNA is also not in financial distress as may be the case with other cannabis companies out there. The company finished the third quarter, the most recent reported period, with $5.5 million in cash reserves.
Moreover, MJNA has recently taken steps to expand into new international markets and invest in companies that are leaders in their segments. These prudent actions are helping lift Medical Marijuana stock as more investors learn about them.
About Medical Marijuana stock
Is Tilray Inc (NASDAQ:TLRY) A Buy Or Sell?
For Tilray Inc (NASDAQ:TLRY) and the rest of cannabis stocks, 2019 was no doubt a bad year. But 2020 is shaping up to be a promising year for the stock. To start with, Tilray stock has already gained 8.35% year-to-date. If that says anything, it shows following the broad selloff in Tilray stock last year, we’ve got to a point where sellers are giving way to buyers in the stock.
There are several catalysts that should continue driving NASDAQ:TLRY as you’re about to see. First, below is a brief profile of the company we’re discussing.
Tilray is a Canada-headquartered global cannabis company. It is engaged in activities of cannabis cultivation and processing as well as marketing and distribution of cannabis products. Tilray already has several cannabis products brands to its portfolio. It operates across five continents through subsidiaries in Canada, Australia, Germany, and Portugal.
Following the broad collapse of cannabis stocks in 2019, investors are looking for cannabis stocks that can make a positive impact on their portfolios in 2020. Tilray stands out as an attractive cannabis stock pick in 2020. Here are some of the exciting things about the company.
Tilray CEO sees a bright future for the cannabis industry
On January 25, Tilray CEO Brendan Kennedy spoke on Bloomberg. In that interview, Kennedy framed a rosy outlook for the…
Is Cronos Stock (TSE:CRON)(NASDAQ:CRON) A Buy?
Cronos Stock (TSE:CRON)(NASDAQ:CRON) stock fell 9.22% on January 24, marking its steepest decline so far in 2020. The stock plunge followed an important disclosure that you would only expect from a company that is trying to be straight and transparent with investors. Here’s what happened.
On January 22, after market close, Cronos made a regulatory filing detailing changes in its executive team. In that SEC filing, Cronos revealed that David Hsu and William Hilson have stepped down as its chief operating officer and chief commercial officer, respectively. Unfortunately, some investors read bad news in the executive exits and sold their shares in Cronos.
But a careful reading of the filing doesn’t seem to raise any red flags. Therefore, the big stock plunged points to investors panicking to the degree of responding to a mosquito bite with a missile.
There is no doubt that 2019 was a difficult year for cannabis stocks and Cronos Stock is no exception. But before the uncalled for reaction to Cronos’s regulatory filing, we had been at a point where sellers were starting to give way to buyers in Cronos stock. The stock has gained about 8.0% in the past one month. It had gained more than 13% year-to-date before the January 24 big selloff.
About Cronos Stock
Cronos Stock is a Canada-based global cannabis company. Cronos operates through subsidiaries and…