Terra Tech Corp. (OTCMKTS:TRTC) Retreats Further

After a five-session green rush that sent the price to new highs, the last two sessions pulled the share price of Terra Tech Corp. (OTCMKTS:TRTC) nearly 20% down. On Friday the ticker dropped 7% to stop at $1.15 per share. The volume accumulation from the last two big green sessions that sent TRTC to $1.40 per share faded slightly but share volume remained heavy on the way down.

The ticker reached amazing heights in a disproportionately short span of time, bursting from under $0.10 per share in the end of 2013 to its last week high of $1.40. Even though excitement is still rampant across the marijuana sector, excitement and future possibility can only extend to a certain point uphill. Even though TRTC appears to have a large number of long supporters who believe in the company’s vision, there will always be people who will ride the rollercoaster to a peak and cash out near it.

We mentioned that TRTC was slowing down its climb and was turning fiercely volatile last Wednesday, when an intra-day dip momentarily floored the price to $0.90 per share. Technical analysis aficionados may note that the stock’s RSI bumped at 90 over that volatile session.

TRTC‘s climb was supported by appearances in major media and this no doubt helped the climb. However, the company is still in the process of acquiring its marijuana license for the state of Nevada and is still a leafy greens producer. Making money from potherbs does not equal making money from pot, or from the herb, even though the two sound very much alike.

Whether TRTC will manage to stop the slide and level it out or the drop will continue remains to be seen. Other marijuana stocks made a bigger splash in Friday’s market. Growlife, Inc. (OTCBB:PHOT) topped the most heavily traded OTC stocks chart, shifting a total of $35 million in dollar volume. GreenGro Technologies, Inc. (OTCMKTS:GRNH) pushed among the most heavily tickers as well, but closed 13% down.