Cannabis agriculture company Terra Tech, Corp. (OTCMKTS:TRTC) announces that its subsidiary, Edible Garden, has begun shipping its line of potted living herbs to New Jersey-based regional supermarket, Wegmans.
NEWPORT BEACH, CA–(Marketwired – September 22, 2016) – Terra Tech Corp. (TRTC) (“Terra Tech”) or (the “Company”), a vertically integrated cannabis-focused agriculture company, today announced that its subsidiary, Edible Garden, a retail seller of locally grown hydroponic produce, herbs, and floral products, has started shipping its line of 4 inch potted living herbs to Wegmans Food Markets, Inc. (“Wegmans”) in New Jersey. Wegmans, a privately held American regional supermarket chain headquartered in New York, operates 89 stores in the mid-Atlantic and New England regions.
Edible Garden’s living potted herbs are USDA-certified organic, allowing consumers to experience superior-quality, mineral rich produce, free of contaminants, pesticides and GMOs. Living Salads are Edible Garden’s answer to bagged salad mixes, which often go limp within a few days of purchase. These “living salads”, sold in clamshell packaging, long outlast competitor’s products while maintaining maximum flavor, freshness, and nutrient content.
Derek Peterson, CEO of Terra Tech, stated, “We have more than tripled our organic 4 inch herb line production since the second quarter of 2016 due to supermarket demand and are delighted to announce that Wegmans, a nationwide supermarket chain, is one of our latest customers. As a result of the popularity of this product line, we are currently installing more automation table systems in our facility in Belvidere, NJ to increase production of this herb line as well as our SUPERLEAF™ salads. Our Edible Garden subsidiary continues to go from strength to strength as our products gain traction in new locations, including at major supermarket chains such as Wegmans. Our organic produce is becoming more and more popular as consumers become increasingly health conscious and concerned not just with the types of food they eat, but also the production methods used to grow these foods. We are delighted to be shipping to Wegmans in New Jersey so that even more people can experience our freshly farmed produce.”
Edible Garden produces local and sustainably grown hydroponic produce, including the following potted living herbs: chives, basil, parsley, oregano, dill, cilantro, mint, rosemary, sage and thyme. In addition to Edible Garden’s organic range of lettuces and herbs, the Company also features the following vitamin and supplement brands; Vitamin Way®, Vitamin Whey Protein®, SlimTrim®, Surgex Sports Nutrition®, OmEssentials® and Bikini Ready®.
About Terra Tech
Terra Tech Corp. (TRTC) operates through multiple subsidiary businesses including: Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology. Blum’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blum offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces medical cannabis-extracted products for regulated medical cannabis dispensaries throughout California. The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Winn-Dixie, Raley’s, Meijer, Krogers, and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. Terra Tech’s MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada. The Company’s wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies.
Potential investors in Terra Tech, Corp. (OTCMKTS:TRTC) should be looking at the current and historical short data in order to get a glimpse of where the market believes the stock might be headed. According to the most recent information, there are 3933200 total short interest. Given the stock’s average daily volume of 11656300, this results in 0.3 days to cover. Compared to last month, this is a 102.04% change in total short interest.
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When investors engage in short selling or “shorting a stock”, they actually borrow shares from an existing owner, sell the borrowed shares at market price, and take the cash. The short sellers then promise to replace the stock in the future and makes dividend payments out of their own pockets to cover the dividend income that is no longer exists on the original, now borrowed and sold, shares.
They hope that the stock price will fall or that the company will fail and go bankrupt, leading the equity holders to ruin. The short sellers will then buy the stock back at a much lower price and replace the borrowed shares, pocketing the difference.
Shorting a stock can be very risky if the price doesn’t decline like planned and, in fact, increases. It’s important for any investor to understand the dangers and potentially catastrophic financial losses of short selling.
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