Terra Tech Corp (OTCMKTS:TRTC) Bounces Back to a Dime
After a disappointing streak that pushed Terra Tech Corp (OTCMKTS:TRTC) near its all-time lows, the price went to chart a two-day bounce. TRTC closed green in double digits two days in a row and clambered over a dime per share once more. Nine months ago TRTC stock was trading around $0.50 per share.
The latest bit of news from Terra Tech came on July 21, when the company announced IVXX added four new retail partners in Los Angeles. Much like the bunch of previous similar announcements that incremented the counter of IVXX-selling dispensaries, the news had absolutely no effect on the market. TRTC closed red on the day of the news.
The bounce that took place in the next session seems to have been more technical and a result of the price carving a number of consecutive 52-week lows, rather than originating from the mildly interesting new bit of PR.
TRTC is being very quiet about its proposed dispensary, cultivation and production locations in Nevada, which were the chief reason frenzied investors bought the ticker all the way up to the $0.50 mentioned above, back in November 2014. The locations are reportedly being worked on and the first TRTC-owned dispensary should open its doors by October 2015.
The company seems to have moved its focus to the IVXX brand in recent months, with virtually all of its PR directed at IVXX. While the brand was in its infancy and was distributed through a far smaller number of outlets over the quarter ended March 2015, TRTC pointed out its YoY increase in revenues was primarily due to new IVXX revenue. It remains to be seen whether the increased number of dispensaries and continued advertising will have an even bigger impact on TRTC‘s Q2 performance.
It’s impossible to tell whether the latest two sessions mark the start of a recovery period and whether investor confidence is returning. If there are not too many investors willing to cash out into the price bump, TRTC may swim in calmer waters for a while.