Shares of Terra Tech Corp (OTCMKTS:TRTC) continue on their bull run for 2016. We’ve been telling Insider Financial subscribers since January that TRTC was one of the best pot stocks to own. We said last month that “What we are seeing with TRTC is not only short covering, but also new buyers coming into the stock as the company continues to get new press. This is indeed Green Rush 2.0 and TRTC looks poised to continue making new highs.”
Helping to drive shares higher was the company’s latest earnings report, which showed substantial revenue growth. Total revenues generated for the quarter ended December 31, 2015 were approximately $2.17 million, an increase of 44% from $1.5 million in the same period in 2014; total revenues for the full year 2015 were $9.98 million, an increase of 40.6% from $7.09 million in the year ended December 31, 2014.
Revenue guidance for 2016 calls for $20 million to $22 million. Driving this growth is TRTC’s recently completed acquisition of Black Oak Gallery, DBA: Blüm Oakland, an established, retail medical cannabis dispensary in Oakland, CA. Blüm Oakland, which holds over 42,000 registered patients, has been operating since November 2012 and services close to 1,000 patients each day. The acquisition includes Blüm’s fully integrated supply chain, which consists of a sophisticated onsite cultivation facility and its portfolio of proprietary strains, as well as its high-volume retail storefront. Trailing 12-month non-GAAP revenue for Blüm Oakland is over $14 million, which tracks the revenue reported by Blüm Oakland in its associated sales tax and cannabis tax reporting and payments. When this deal was first announced back in January, we said that it was indeed a game changer for TRTC.
TRTC will now apply the expertise of Blum towards the company’s expansion into Nevada. Terra Tech’s first Nevada-based medical cannabis dispensary, located at 1921 Western Avenue in Las Vegas, has had its final business license approved by the Las Vegas City Council.
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Terra Tech Corp (OTCMKTS:TRTC) has been one of the best performing pot stocks for 2016. It looks like Green Rush 2.0 is here for the marijuana sector. We told Insider Financial subscribers back in January that TRTC was one of our top picks and that shares were on the verge of a breakout. We think the run in Terra Tech is just getting started.
Fueling Terra Tech’s rise was its game changing acquisition of Black Oak Gallery, DBA: Blum Oakland, an established, retail medical cannabis dispensary in Oakland, CA. Blum Oakland, which holds over 42,000 registered patients, has been operating since November 2012 and services close to 1,000 patients each day. The acquisition included Blum’s fully integrated supply chain, which consists of a sophisticated onsite cultivation facility, its portfolio of proprietary strains, as well as its high volume retail storefront. Trailing 12-month non-GAAP revenue for Blum Oakland is over $14 million, which tracks the revenue reported by Blum Oakland in its associated sales tax and marijuana tax reporting and payments.
The latest news from Terra Tech is the Grand Opening of its medical cannabis dispensary located at 1921 Western Avenue in Las Vegas, Nevada will be held on April 20, 2016. Located adjacent to the Las Vegas Strip, the Western Avenue dispensary will offer patients the company’s proprietary IVXX brand of premium medical cannabis, including flowers, shatters, waxes and oils, among other high-quality cannabis products from a range of reputable providers of superior grade medical cannabis. The 3,900 square foot facility is located adjacent to the Las Vegas Strip at 1921 Western Avenue and is expected to benefit from the heavy traffic in Las Vegas.
Western Las Vegas is the first of four retail medical cannabis dispensaries slated to open in Nevada in 2016. Three of those, operating under the store name Blüm, will be in Southern Nevada, on Western Avenue, Desert Inn Road near the Las Vegas Convention Cen
I think the run up is also because things are about to begin, $$ coming in, dispensary opening, laws changing. This is the biggest money maker out there with lots of medical and recreational demand. The hemp uses alone are extraordinary for clothes, etc. Even George Washington grew hemp.
I think if you are not following them on FB, then many are not aware of what is coming. With POT stocks its a free for all but this company seems to have all of their ducks in a row. Would love to see $1 again.
If you cannot spell folk's, then you certainly do not know what the hell your talking about.
Your right useless post attacking each other with no info on the stock. When I put all the morons on ignore there are no post. Oh well...
When the good news comes out, volume will spike and everyone else will be chasing it. All they need is 10% success and I have heard its more like 30-40% shrinkage.
Yeah and the ZAZZ was a flop.