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Hi Everyone & Welcome New Subscribers,
We have been quiet this week for good reason – the OTC Market as a whole has had relatively nothing to talk about, and rather than recycle useless information, we are maintaining our focus of quality, event driven stocks. In a market like this, one must be selective, and quality vs. quantity is something we have always preached.
With that all being said, Terra Tech Corp. (TRTC), which most OTC traders who have been in the market for greater than a year would recognize, announced a definitive merger agreement this morning to acquire 100% of the outstanding shares of Black Oak Gallery, DBA: Blum Oakland.
Blum is a retail medical cannabis dispensary in Oakland with more than 42,000 registered patients, and has been in business since 2012, generating upwards of $14 million in non-GAAP revenue over the past 12 months.
Investors quickly and aggressively scooped up shares on the news, as the stock surged higher to close up by more than 23% with it’s highest volume traded in well over a year; an impressive feat to say the least.
With the kind of price action, and more importantly investor interest (volume wise), it’s very possible, in our opinion, TRTC moves higher towards it’s 200 day moving average of .129 over the next couple days.
If shares fail to hold the .10 level in this trend, we would consider that a breakdown to exit stage left, and will consider that a level of support moving forward.
Keep (TRTC) on top of your watch list for tomorrow following today’s impressive performance!
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