Terra Tech Corp. (TRTC) ("Terra Tech" or the "Company"), a vertically integrated cannabis-focused agriculture company, today announced its third quarter 2017 financial results for the period ended September 30, 2017.
Terra Tech reported second quarter earnings yesterday and despite the better-than-expected demand for recreational marijuana in Nevada, the company left its full-year guidance unchanged.
While we are favorable on these numbers, many investors were expecting Terra Tech to guide higher.
After Nevada voters passed legislation to legalize recreational marijuana in the November elections, the state became the fifth state to allow for such sales when the market opened on July 1st.
The media was all over this event and several news outlets said that many of the 44 licensed retail outlets had customers lined up around the corner.
Recreational marijuana is coming to Sin City…
Starting tomorrow, you can purchase recreational marijuana in Nevada and Las Vegas based marijuana firms have reason to rejoice.
After Nevada voters approved a measure to legalize recreational marijuana in the November 2016 elections, the state will become the fifth state with an operational recreational cannabis market.
Although the cannabis industry is the fastest growing industry in the world, investors need to be selective and conduct thorough due diligence before investing.
When it comes to the cannabis industry, it all starts with the management team and it is important than ever to know who you are investing in. The emergence of the cannabis industry has led to an influx in the number of publicly traded companies focused on this incredible growth sector.
Terra Tech (TRTC) reported financial results for the second quarter and the company saw significant growth from a revenue perspective on a year-over-year basis.
Although we are favorable on this top-line growth, a majority of this revenue was generated by its Edible Garden subsidiary which has a very low gross margin.
Cannabis Products…A Margin Story
2016 has already been a monumental year for the medical cannabis industry as three separate Phase 3 clinical studies focused on products derived from cannabis have yielded positive results. At this time, we may see a watershed event that will profoundly impact the industry.
The DEA and FDA classify cannabis as a Schedule I substance, which places it in the same category as heroin, LSD, ecstasy, and peyote.
Data Disagrees with DEA
In an attempt to raise capital for generate corporate needs, Terra Tech Corp (TRTC) issued 12% senior convertible promissory notes in the aggregate principal amount of up to $11,000,000, each with a two-year term, that are convertible into shares of common stock and warrants to acquire common shares.
2016 has been a year to remember for the cannabis sector and we are not even at the midway point yet. We want to highlight five cannabis stocks that have consistently appeared on our radar screen this year.
We encourage you to do your own due diligence and research the stocks featured in this article before investing in them. Read through this carefully as we highlight stocks we recommend, as well as stocks we think you should avoid.
One of the top performing cannabis stocks during 2016 has been Terra Tech Corp. (TRTC), a vertically integrated cannabis-focused agricultural company committed to cultivating and providing the highest quality medical cannabis and related products.