Earlier in this month, Terra Tech Corp (OTCMKTS:TRTC) posted an update on its Facebook page. The message mentioned that as most of shareholders know adult use cannabis was made legal to sell in Nevada more recently and the company’s team has nailed it. The sales exceled any of their anticipations. To put it in perspective, in 2011 the firm’s total revenue was around $500,000.
In just a single day after this approval came, the company through its four retail facilities in Nevada and its continued strong show in Oakland managed to achieved almost half of what the company achieved in all of 2011. That doesn’t occur without a remarkable team at Blum, and robust back office, and not to forget a ton of work.
Nevada will be mark as one of the key growth drivers for Terra Tech in the imminent years and they are fortunate to have the opportunity due to the countless hours the company has spent on getting these permits, constructing the facilities and importantly developing and training staff who worked with perfection on the momentous day. Derek Peterson, the CEO of Terra Tech, mentioned that they appreciate the support of their shareholders who have stood by company over the preceding few years. It is not easy to be patient when in the starting stage but now company starts to yield the fruits of the hard work done. The management look forward to a thrilling second half to 2017.
Earlier Terra Tech posted that its Dual Use Marijuana operation applications have been approved by Nevada Department of Taxation. It enables all its Blüm cannabis dispensaries in the state to launch cannabis sales for adult-use, beginning July 1, 2017.
In the last trading session, the stock price of Terra Tech declined more than 11% to close the day at $0.195. The decline came at a share volume of 8.95 million compared to average share volume of 3.74 million.