Terra Tech Corp. (OTCBB:TRTC) Marks Strong Year-End, Expects Success on New Cannabis Law
The year-end came in with a bang for Terra Tech Corp. (OTCBB:TRTC), and boosters from paid pumps meant a successful run despite the holiday weeks. Another boost was given from Seeking Alpha, as TRTC is one of the high-flying tickers in the medical cannabis sector. And now, the state of Colorado recreational marijuana will be on sale as of January 1st, potentially giving another jolt to the sector as a whole- and some tickers in particular. 
TRTC grew by 12.5% at the last year-end session, on two consecutive days of heavy buying, reaching $0.135 on buying volumes above $929,000. Although TRTC corrected after the run in mid-December, still this marijuana stock shows a robust upward trend. TRTC doubled in price since November.
Now, TRTC may receive a new boost from news at the beginning of 2014, but there is still plenty of time before the new financial report. For TRTC, there is still an uphill struggle to benefit from the new legislation and increase sales and income. TRTC showed holdings of: cash:
- $40 thousand
- current assets: $837 thousand
- current liabilities: $3.8 million
- quarterly revenue: $773 thousand
- quarterly net loss: $15 thousand
TRTC so far relies on press releases about its Edible Garden subsidiary, a hydroponics producer that focuses on edible herbs and leafy vegetables, but with a strong possibility to also service the medical cannabis industry.
Despite the underlying business, TRTC is on a general upward trend that comes with exuberance and optimism from investors, so in part the climb may be disproportionate. Opinions vary between wild optimism and doubts that the run would hold for much longer. Now, TRTC heads for end-of-week trading, where profit taking is not out of the question.
The sector bellwether, Medical Marijuana, Inc. (OTCMKTS:MJNA) made a similar pattern, with exuberant days ahead of the new liberties, expected to encompass new states in the near future. MJNA broke out of the rut, moving from 10 to 16 cents in a few short days.
GreenGro Technologies, Inc. (OTCMKTS:GRNH), though cheaper, also made a decent run in December, almost doubling in price to $0.044.
If you want to ride the new wave for this sector, keep in mind that all those stocks have risen dramatically in the past, but also went through corrections or stagnation. Stay away from TRTC, unless you are able to also afford the setbacks.
