Cannabis penny stocks have been on fire as of late. It’s to be expected. Legalization is on the way in Canada—kicking off on October 17th—and in anticipation of a market that is expected to hit $22 billion USD across North America by 2021, investors are keenly eyeing cannabis penny stocks.
Cannabis Penny Stocks: Terra Tech
So in light of this exciting market, we are looking at one penny stock which is due a stock explosion, the US’s Terra Tech Corp.
At the start of 2018, Terra Tech stock was spiking—almost hitting $7 a share at the peak. However, as 2018 progressed the company’s stock declined steadily, only managing to pare some losses a few cents at a time.
Today, Terra Tech stock is selling at $1.77 (which is actually representative of a current 2.89% gain).
The mind boggles somewhat on this because Terra tech has been making incredible revenue sales and reporting astounding Q2 results. The usual case is that shares begin to skyrocket when a company does so well. So why isn’t Terra’s stocks reflecting the company’s good performance? Perhaps it’s on the way…
Terra’s revenues reported $17.3 million in sales for the six months ended June 30th, 2018. This is up from $14.6 million in the same period the previous year. Presently, the company is trading at a $129 million market valuation and boasts $5.1 million in the treasury and $109 million in assets.
Terra Tech has a history of massive moves when the sector heats up. It could just take one big catalyst to see this stock skyrocket again. And demand is there, TRTC shares always have a daily trading volume in the millions.
It saw two significant runs before, one in 2014 and the other in 2016. Could the next one be on the horizon?
About Terra Tech
Terra Tech owns and operates multiple subsidiary businesses including Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. The company has locations in three states, California, Nevada, and New Jersey.
All the Company’s cannabis dispensaries operate under the name Blüm.
Featured Image: SmallCapVoice