Time to Buy Terra Tech Corp (OTCMKTS:TRTC) Shares at Cheaper Levels


Terra Tech Corp (OTCMKTS:TRTC) shares were down 3.44% on Friday and an additional 0.45% in after-hours trading to $0.447. Share prices have been trading in a 52-week range of $0.09 to $0.75. The company has a market cap of $21.35 million at 349.98 million shares oustanding.

Terra Tech Corp is a cannabis-focused agriculture company that  operates through two segments: Hydroponic Produce and Cannabis Products. Through its subsidiary GrowOp Technology, the company is engaged in the design, marketing and sale of hydroponic equipment and is also a retail seller of locally grown hydroponic produce, herbs, and floral products through its subsidiary, Edible Garden Corp. These produce are sold through major grocery stores such as ShopRite, Walmart, Krogers, and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest.

Terra Tech Corp intends to operate medical marijuana cultivation, production and dispensary facilities in Nevada through its subsidiaries, MediFarm, Medifarm I, and Medifarm II. Through another subsidiary IVXX Inc, it produces and sells a line of cannabis flowers and cigarettes, among others. 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, which should be poised for a lot of upside in this week’s elections.

Indeed cannabis shares have been under the spotlight over the past few weeks leading up to the polls. Analysts estimate that the regulated cannabis sector in the U.S. is anticipated to rise over $7 billion by the end of 2016 if California says yes for the legalization of cannabis in either recreational or medical use. Eight other states are set to vote on the issue, which would represent a large new market for these companies.

ArcView Market Research and New Frontier reported that regulated recreational cannabis sales had surpassed nearly a billion dollars in 2015 compared to $351 million in 2014. With that, several large and small companies are positioning themselves to take advantage of a likely boom in the industry, and Terra Tech Corp has laid the groundwork pretty well.

In particular, IVXX Inc hand selects and harvests the finest-grade cannabis under the safest and most beneficial conditions, free of toxic pesticides, harmful molds and chemical residues. These products are carefully produced, rigorously tested and certified to the highest standards of potency and purity. The company’s hand selected strains are the I-Hybrid and S-Hybrid and also offers pure concentrates ranging from Shatter, Wax to Oil, which are all produced in its advanced extraction labs, along with custom rolled joints.

Aside from that, MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada, which would be tapped into by other smaller companies who might seek to be part of the growing cannabis industry in the state. Another subsidiary, Blum, offers a broad selection of medical cannabis products including flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. Its 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.

The daily chart of Terra Tech Corp shows that volume has been significantly higher recently, supporting stronger investor interest. Volatility has also noticeably picked up and might be sustained leading up to and after the vote. Also, a rising trend line can be drawn to connect the lows of price action since June, showing a potential entry point around $0.35.