Terra Tech Corp. (OTCMKTS:TRTC) Recovers, Pot Sector Diverges
Yesterday’s session saw Terra Tech Corp. (OTCMKTS:TRTC) manage a green close following a prolonged red streak. TRTC‘s share price reversed its movement and the ticker stopped 13% up by the closing bell. This happened in the wake of TRTC slipping from $0.92 down to $0.63 per share over five consecutive sessions.
The company made another media appearance a few days ago but that didn’t help prop the stock up immediately. This is not too surprising as the interview was uneventful, with the company speaking about its plans to switch from growing potherbs to growing pot in its greenhouse locations across the country.
The company did file an 8-K yesterday, informing that Amy Almeister, a director and officer of TRTC, agreed to pay the company the sum of $67,100 as settlement for a claim against her made by the company, for violation of Section 16(b) of the SEC Act of 1934. This particular section is titled ‘Profits from purchase and sale of security within six months’. The claim made by TRTC was related to the sale of 350 thousand common shares at $1.25 on March 13 and the purchase of 100 thousand shares at $0.58 this Tuesday.
Both transactions were accompanied by the respective Form 4 filings, but it seems TRTC found issue with them or at the very least decided to pull a slight publicity stunt. The company protecting its retail shareholders from speculative insider trading is a wonderful thing but the settlement sum of $67 thousand is just a fraction of the $437 thousand Ms. Almeister made when cashing out on March 13.
The marijuana sector spent almost a week in limbo, shaken after the SEC suspension of Growlife, Inc. (OTCBB:PHOT) – a company that many, including a portion of our readers, considered to be the most stable pot business. After all pot-related tickers slipped across the board, it seems now things are diverging, with some tickers still dropping while others are making attempts at recovery. Medical Marijuana, Inc. (OTCMKTS:MJNA) dropped again yesterday, closing 3% down. Canabis-Rx, Inc. (OTCMKTS:CANA) crashed 42%. At the same time, TRTC was among the biggest pot sector gainers, along with Tranzbyte Corp. (OTCMLTS:ERBB) who managed a double-digit bounce.
