Terra Tech Corp (OTCMKTS:TRTC) Grinds in Place

Another press update, another IVXX announcement and Terra Tech Corp (OTCMKTS:TRTC) is back down to ten cents per share. In yesterday’s session TRTC dropped 2% to stop at $0.105 per share, on slightly faded share volume that managed to remain a seven-digit figure.

The company’s latest press release concerns, predictably, its IVXX brand. On Sep 24 TRTC announced that a “major distributor” in Southern California signed an exclusive agreement with the company. Distribution was already underway in three counties by the time the PR hit the wire and TRTC reported visible, “unprecedented sales growth”.

CEO Derek Peterson stated that in the four short weeks leading to September 24, the company sold more IVXX products than “any other quarter”. As with another pot stock that is arguably even more popular than TRTC among investors, largely due to being a pot stock longer, the hugely optimistic PR dropping big words like “unprecedented growth” did little to help the share price. TRTC closed 2% up on the day of the news and has dropped 5% since then.

There seems to be a general fatigue among pot stock enthusiasts, after the string of massive disappointments in the sector, including the suspension of PHOT, which even some analysts thought was the real deal, vending machine sob stories ERBB and MDBX, whose one year charts speak wonders, and finally the stock that largely sparked the sector craze – MJNA, currently down to price levels it last visited in mid-2012.

Terra Tech does give the appearance that it is moving in the right direction and is on track with its plans but it’s only a matter of time before it will have to actually deliver on a number of fronts. This timeline starts with the company-owned dispensary locations that should open within a handful of short weeks in Nevada. Timely delivery on that front with no additional delays will definitely cast TRTC in a far more favorable light and give the ticker far more appeal in the eyes of retail investors than the OTCQX uplisting ever could.

By mid-November the record IVXX sales figures should crop up in TRTC‘s due Q3 report and if they are as impressive as the PR makes them sound, the stock will likely catch a boost on the charts. Failing either of those things, however, might paint a much darker picture.