Terra Tech Corp (OTCMKTS:TRTC) has been declining in the stock market, despite having received significant attention from media and analysts. The company has been named as one of the top cannabis stocks, with rapid expansion opportunities, by CNW Group and its CEO, Derek Peterson, has been named as a shark at the Arcview Investor Forum. The selection by CNW was done on the basis of TRTC’s most recent financial report, which indicated a 244% increase in revenues, on a year-over-year basis.
The company reported revenues of $7 million, for the 3Q2016. Mr. Peterson commented on the results stating that TRTC continues to expand its retail presence in core markets, which has mainly been responsible for driving top-line growth. He also stated that it was encouraging to see their strategy expand and pointed out that revenues were also supported by the Blum Oakland dispensary business in California and Nevada. The CEO also hinted that they would soon accelerate their expansion plans, as marijuana has now been declared legal in several states.
The Arcview Angel Investor Network hosts a large in-person pitch event, on a quarterly basis. Currently, the network consists of over 550 investors, interested in investing in the cannabis sector. So far, the forum has helped over 133 cannabis companies, raise over $86 million as investment for their respective businesses. This year’s event, held on November 14-15, 2016, also hosted Mr. Peterson as a Q&A Panelist, or Shark, at the conference.
The panel also included two other renowned personalities from the industry, Jeff Beverly and Ean Seeb, the president of Grow Solutions Inc and the co-owner of Denver Relief, respectively. Mr. Peterson explained that as a Shark, his duty was to listen to company representatives, while grilling them on their business strategies. He further stated that the forum is dedicated to helping the investor community better understand the opportunities and the challenges that they face, when entering the cannabis industry.
Terra Tech Corp (OTCMKTS:TRTC) had a trade volume of 6.06 million and lost 4.81% of its share value, during the November 18 trading session, to reach a close at $0.376 per share.