Terra Tech Corp (TRTC) exploded 62% Wednesday on over 18.8 million shares traded. The junior marijuana stock outperformed all other issuers in January’s Stock Challenge as the major markets in North America sold off violently towards the end of the day.
Marijuana stock: Terra Tech bounces from low
Terra Tech hit a 52-week low of $0.085 on December 16th, but has since rebounded more than 100%. With few bright spots in Wednesday’s trading action, Terra’s 62% single-day move was enough to capture theDaily Stock Challenge Breakout award.
On January 12th, Terra Tech delivered some very positive news to the markets when it announced a definitive merger agreement that will see it acquire 100% of the outstanding shares of Black Oak Gallery, DBA: Blum Oakland. The gallery is an established, retail medical cannabis dispensary in Oakland, CA.
Blum Oakland is not a small operation: The marijuana company reported that it, “…holds over 42,000 registered patients, has been operating since November 2012 and services close to 1,000 patients each day.”
Click here to read more.
Market rewards marijuana stock for revenue
Clearly, the markets got what they were looking for, when Terra Tech announced:
“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.”
Click here to read the entire press release.
Canopy Growth Corp. has been among the most liquid marijuana stocks on the TSX Venture in January. Its shares traded over 4 million shares since January 4th.
Despite the tough markets in January, the Top 20 members in January’s Stock Challenge are all in the green.
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Marijuana stock leading January’s Stock Challenge
Long-time Pinnacle member ‘Mrs mjca’ selected marijuana stock Terra Tech for January’s Stock Challenge and saw his combined average return increase to 40.92%.
Long-time member ‘jeanne54’ who’s gone short oil via two ETFs: HVU.TO and HXD.TO is trailing with a36.77% return.
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