Terra Tech Corp. (OTCMKTS:TRTC) Sinks Like a Stone

After closing red on April 20, the holiday of marijuana lovers and supporters the world over, Terra Tech Corp. (OTCMKTS:TRTC) dropped like a lead balloon once again. TRTC ploughed its way down the charts to record both its lowest intra-day trade and its lowest close for the last 52 weeks.

The company’s stock slid 9% and closed at $0.17 per share, a new yearly low. Mere minutes before the close, the price was depressed as low as $0.16 per share and a last minute squeeze saved TRTC from closing red in double digits. This sort of drop would have been much more justifiable if 4/20 had brought a huge volume and price swell to OTC pot stocks. However, no such thing happened this year. TRTC, much like virtually every other OTC marijuana stock, did not get a free hype boost on four-twenty.

The annual report TRTC published in late March had both good and bad in it, but it seems the good was not enough to inspire traders. The figures reported were as follows:

• $846 thousand in cash
• $6.4 million in current liabilities
• $7 million in annual revenues
• $22 million in annual net loss

The revenues reported are still leafy greens money and not pot revenues. The company finally launched its IVXX product line but it’s going to be quite a while before any revenues from that show up on the balance sheet. Time will tell whether the general disillusionment with pot stocks that seems to have gripped investors in recent months continues. Until then the best that TRTC investors can hope for is that the price at least manages to maintain its current levels.