Terra Tech Corp (OTCMKTS:TRTC) has resorted to remain hopeful despite the recent plunge in its share price. The company started the year on a positive note with its stock scoring highs of $0.62 per share before it took a huge turn. But regardless of the huge plunge, the company is still optimistic about its future value given that the firm has the great market opportunity in the ever-growing cannabis business.
The company skyrocketed the moment it received a license to distribute and commercialize cannabis products to both recreational and medical markets in California. But after a while, the market share price began trading in a downtrend shedding over 50% of the firm’s market value.
Terra Tech is basically an agriculturally-based enterprise that focuses on growing safe and high quality hydroponic and cannabis products. The company partners with GrowOp Technology to help in designing, developing, and distributing the hydroponic equipment and hydroponic products. In addition, the company is planning to launch medical cannabis dispensaries in Nevada and beyond.
However, considering the huge size of the readily available market in California, the company should be in a position to generate significant returns. Additionally, California is highly populated and has one of the oldest and vastly developed medical cannabis. Terra Tech is also one of the leading firms that have received the adult-use license in California hence it’s well-positioned to enlarge its customer base and grow its brand name.
One arena in which the cannabis industry is still facing challenges is to grow in the stock market. Majority of the firms are stuck in the over-the-counter markets despite the efforts to rank up to the NYSE or NASDAQ stock exchanges.
Terra Tech is a leading and publicly traded cannabis company in the US. However, Derek Peterson, CEO of Terra Tech is determined to grow his business to attain the $100 million in revenue so that it can upgrade to the major stock exchange.