Terra Tech Corp (OTCQX:TRTC) share price move sharply higher after Donald Trump announced his support for state-level marijuana regulations. Shares of micro-cap company had experienced significant volatility in the last two months, due to uncertainty regarding the states potential to regulate cannabis markets. Terra Tech stock has the 52-week trading range of $2 to $9 a share.

“Since the campaign, President Trump has consistently supported states’ rights to decide for themselves how best to approach marijuana,” Gardner said in a statement on Friday.

Shares of Terra Tech jumped 15% on Friday following Gardner comments and extending the momentum into this week. TRTC shares currently trade around $3, down significantly from this year high of $7 a share it hit early in the year.

America-based Terra Tech Corp is a cannabis-focused agriculture company. The company operates in two business segments:  Hydroponic product and Cannabis Products. The company has a significant presence in California and Nevada – which are the largest cannabis markets in the United States.

Its revenues jumped 41% in Fiscal 2017 compared to the past year. The company expects to post high double-digit revenue growth this year, amid its expansion strategies in key markets. Terra Tech recently received authorization from California to cultivate, distribute and retail cannabis.

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The company expects its yearly California cannabis production to stand around $20,000, amid its dispensary operations in Oakland and Santa Ana, and in San Leandro.  According to BDS Analytics estimates, overall California cannabis sales are likely to land around $3.7 billion this year, $5.1 billion in 2019.

Commenting on changing market dynamics, its CEO said, “Our strategy to establish our Blüm™ and IVXX™ brands as premium cannabis experiences in targeted states set the foundation for the Company to quickly expand into the adult use market when Nevada welcomed legalization in July 2017, followed by California in January 2018.”

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