Terra Tech Corp (OTCMKTS:TRTC) Nails $0.45 Again

Terra Tech Corp. (OTCMKTS:TRTC) dropped dangerously low an hour or so into yesterday’s trading session and just barely managed to come out on top at its close. It stabilized at $0.45 moments before the final bell.

TRTC managed to jump on Jan. 27 thanks to a press release it published mid-session. The company announced that it has seeded half an acre of plants in their new 5-acre cultivation facility in New Jersey. The news certainly isn’t all that impressive in and of itself, but thanks to the market’s present hyped state it managed to push the ticker up 28.03%.

TRTC more or less lost that momentum during its next session. Perhaps once a few heads cleared, people realized that “seeded half an acre of plants” does not necessarily mean that the company is about reap immediate monetary rewards.

All things considered, yesterday’s session opened well. Then for a while it looked like it was going to turn into another disaster for TRTC, but the ticker managed to recover its high and stabilized at the last possible moment, and the crash was averted.

After the session was over, TRTC announced that they have formed a team focused on competing for permits to operate cannabis businesses within the state of Nevada. The team is to be headed by former principal lobbyist for the ACLU at the Nevada state legislature Rebecca Gasca.

While the news can certainly be taken in a positive light, it is yet unclear what said partnership will achieve. TRTC‘s present steps towards commercial success and a better, more stable market standing are commendable, but a look at their filings clearly indicates that they’re going to need a lot more than lobbying and permits to turn profitable.

TRTC is currently trading 4.22% down in today’s session.

Other companies in the same branch that struggled with the market yesterday are HEMP, INC.(OTCMKTS:HEMP) and GreenGro Technologies, Inc.(OTCMKTS:GRNH).