By: AllPennyStocks.com News

Friday, January 25, 2013

The legalization of marijuana has been a source of debate for decades, but it looks like the controversy is starting to shift in favor of advocates. Although still illegal on a federal level, Colorado and Washington State making the bold move in November to make recreational marijuana legal gave adversaries something to scowl at. Now, conservative pundits may have more to clamor over as Hawaii has joined Maine, Pennsylvania, Rhode Island and Vermont on the list of states with legislation pending to legalize cannabis. Hawaii Representative Joseph Souki, Chair of the Hawaiian House Committee on Transportation and House Speaker Emeritus, introduced House Bill 150 this week that would make the state the third to permit the adult use of marijuana. Polling by the American Civil Liberties Union indicates that the bill will pass. Instead of the question being “Will these states legalize marijuana?” the question now only seems to be a matter of “when.”

It seems inevitable that other states will be joining the movement. The Daily Iowan reported this week that Republican Bruce Hunter proposed a bill on January 16 to legalize medical marijuana for sufferers of chronic diseases. The publication quoted Hunter as saying, “Should they be made a criminal because they want to get rid of pain?”

Earlier this month, the Blaine County Republican Central Committee in Idaho passed a resolution supporting a proposed policy to legalize marijuana. A survey two weeks ago by Marijuana Policy Project showed that the majority of respondents in West Virginia support legalizing cannabis for medical use. The list can go on and on, lending support that many states will be joining the 18 others that have already approved marijuana for either medicinal or recreational purposes.

The paradigm shift should be opening investors’ eyes to companies such as Terra Tech Corp. (OTCBB:TRTC) for its offerings in the marijuana growing industry. Through its wholly-owned subsidiary, GrowOp Technology Ltd., Terra Tech is well-positioned to experience hyperbolic growth with its controlled environment hydroponic technologies that can be utilized in the agricultural sector, including cannabis plant growth.

The company has received national exposure through many large publications and television reports, such as Fox Business, the Huffington Post and Marketwatch.com, adding to the credentials of the blossoming company and its management.

Terra Tech is aggressively on the move to solidify its footprint and increase its control of market share in the near term to build shareholder value. This month alone it has signed a Letter of Intent to acquire New Jersey-based GroRite, a garden superstore with sales in excess of $4 million annually. The company has also launched its plug-and-play mobile hydroponic chamber called, “The Bloom Room.” The Bloom Room is an enclosed 34-foot unit built upon a 3-axle mobile car trailer that contains everything needed to grow high-grade medical cannabis.

Base units start at $42,000 and the first production has already been sold to customers in Colorado.

The industry is on the rise and offers a unique and substantial opportunity for companies like Terra Tech. The National Cannabis Industry Association estimates that the Colorado medical marijuana industry has generated nearly $200 million in sales in the past two years alone.

With other states passing legislation, or expected to pass laws in the near term, it looks like more than half of the United States will be permitting marijuana usage in some fashion.

With its unique position in the industry, Terra Tech and its tiny $38 million market capitalization should be expected to reap strong benefits, which should catapult its 47 cent per share price tag much higher in the near term. Proper due diligence is, as always, encouraged.

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