Terra Tech Corp. (OTCBB:TRTC) Continues to Climb
Ever since it dropped to nearly 6 cents back in November the stock of Terra Tech Corp. (OTCBB:TRTC) has been on a path to recovery. The ride has certainly not been smooth but nonetheless TRTC has been climbing up the chart. Although in recent months they have been focused primarily on their Edible Garden subsidiary that sells hydroponically grown produce the company still got lifted even higher by the recent marijuana hype.
In early trading today the stock is still moving positively currently sitting at 21 cents per share. Interest shown by investors is also holding strong with more than 2 million shares changing hands in just an hour almost reaching the average amount of 3 million.
The CEO of the company has said on multiple occasions that they will be evaluating opportunities to cultivate both industrial hemp and medical cannabis but for now they are waiting for the necessary legislative changes. That however doesn’t mean that the management team has been sitting around.
As we said TRTC have been continually expanding their Edible Gardens brand. On December 3 they announced that another distribution deal has been signed this time with Heartland Growers, a farm in Indianapolis. In a press release from December 17 they revealed that their brand of locally-grown produce will be available in Fairway Markets.
As a result of the constant growth revenues have been increasing but still TRTC have not been able to achieve a positive bottom line. At the end of September the company reported the following financial results:
$40 thousand cash
$837 thousand current assets
$3.8 million current liabilities
$773 thousand revenue
$15 thousand net loss
$837 thousand current assets
$3.8 million current liabilities
$773 thousand revenue
$15 thousand net loss
Thanks to its diversified structure TRTC can be more appealing than some of the pure-play marijuana pennystocks. Still the company requires doing serious due diligence before committing to any trades. In early trading today Growlife Inc. (OTCBB:PHOT) are also starting to hesitate. After opening at $0.24 the stock quickly fell down and is currently fluctuating around 23 cents per share. And after the devastating session from yesterday the stock of Tiger Oil and Energy, Inc. (OTCMKTS:TGRO) is stil in a state of freefal with another 30% gone. With the pumper StockTips gone for the last 5 days it seems that the $2.5 million promotion for the company is over.
