June has been quite the month for Terra Tech Corporation (OTCQX:TRTC). At the start of the month, the Irvine cannabis company paid roughly $6 million to settle a Nevada cannabis claim. A few days later, Terra Tech acquired the remainder of the interest in the Blüm, Reno Dispensary. And today, things have not slowed down for the company, which has allowed TRTC stock to increase around 5%.
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On Monday, June 24, Terra Tech Corporation said the State of California issued provisional licenses to all of the company’s currently operating facilities in California. These licenses are valid for up to one year; they require METRC compliance.
Of course, this is good news for Terra Tech, a vertically integrated cannabis-based agriculture company, founded in 2008. Most notably, the licenses mean TRTC’s California operations will continue to run in a lawful manner for the next year.
“I would like to thank the State of California for recognizing our efforts to ensure transparency and regulatory compliance at all our locations,” said Terra Tech CEO Derek Peterson. He went on to thank the State as well “for issuing these provisional licenses, including one for our recently renovated Oakland cultivation facility.”
The news also sent TRTC stock into the green Monday, which is a bonus, especially when you take into consideration the handful of cannabis stocks falling today.
According to Yahoo Finance, as of 10:57 AM, TRTC stock is trading at $0.58 on the OTC market; this means the cannabis stock is up 3.57%. Earlier in the trading day, TRTC stock was up a little over 5%.
What do you think about Terra Tech Corporation receiving provisional licenses for all of its California operations? Will it allow TRTC stock to hang out in the green for the rest of the week?
Let us know your thoughts in the comments below!
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