Terra Tech Corp (OTCMKTS:TRTC) Sails Below a Dime
After another disappointing market session, yesterday Terra Tech Corp (OTCMKTS:TRTC) closed 3% in the red and stopped at $0.097 per share. This is the first time the ticker closes below ten cents per share since December 2013.
While everyone on discussion forums is too busy either proclaiming the end of the world for TRTC shareholders or urging everyone else to buy more ‘cheapies’, the fact of the matter is that the company is at its lowest point for the last 18 months. This is unnerving in the sense that TRTC is now much further down the road than it was all those months ago and it has achieved a lot more than it had back in early 2014, when it was trading for over a dollar per share.
On the surface, it seems TRTC has indeed come a long way from the leafy greens producer it was back in early 2014, and when people were buying the dream and were ecstatic about the possibility of TRTC ‘touching the plant’.
The company launched its IVXX (or four-twenty in Roman numerals) product line that includes THC products and now allegedly sells it in a number of different retail locations across California. According to updates from TRTC, things are almost ready and the company-owned and operated marijuana dispensaries should open their doors in Nevada in just over two months. Apart from those pot-related activities, Edible Garden is still producing leafy greens and seems to be optimizing its gross profit margins.
The positives are offset in part by the financing deals TRTC signed so far in 2015, with one of them containing discounted provisions for conversion into common stock. Still, with the company reporting considerable progress and pressing full steam ahead, a share price sliding for a third consecutive quarter and screeching to lows last visited in late 2013, before the marijuana craze of early 2014, may be indicative of considerable erosion of shareholder confidence and is something investors should keep in mind.
