Business

Terra Tech Corp (OTCMKTS:TRTC) Extends Its Decline

In the last trading session, the stock price of Terra Tech Corp (OTCMKTS:TRTC) declined more than 6% to close the day at $0.224. The decline came at a share volume of 9.66 million compared to average share volume of 9.66 million. Post the recent decline, the market cap of firm was noted at 206.42 million.

The buzz

Terra Tech can be stated as a vertically integrated cannabis-focused agriculture firm. On January 1, 2018, it posted that it has obtained State of California Temporary Approval to retail and distribute cannabis, and expects to get authorizations to manufacture and cultivate cannabis for California’s medical and adult-use markets. The company intends to start adult-use cannabis sales in the state of California immediately through its renowned Blüm retail dispensaries based in Santa Ana and Oakland.

Terra Tech first commenced selling medicinal cannabis products to people in California via its Blüm dispensary in Oakland. In expectation of adult-use sales, the firm started a second Blüm retail site in Santa Ana, California in 2017 and is currently establishing a Blüm dispensary in San Leandro. This dispensary is anticipated to start in early 2018. The firm is also expanding its grow facilities via its ‘Craft Cultivation’ model. It has finalized two craft cultivators, located in Salinas and Honeydew, to ramp production of the firm’s brand of premium cannabis.

Other firm in the sector, Liberty Health Sciences Inc (OTCMKTS:LHSIF) marks as an operator and investor in the medicinal cannabis segment, capitalizing on existing and new opportunities in U.S. states where medicinal cannabis is legal. More recently, the firm finalized a licensing deal with MC Brands LLC, a major producer of cannabis edibles, extracts and wellness products, to offer a complementary suite of medicinal cannabis offerings to patients in Florida. As per the deal terms, Liberty will be the sole provider and producer of incredibles cannabis offerings in Florida, depending on approval guidelines.