Terra Tech Corp. (OTCMKTS:TRTC) Slumps Back Under a Dollar

The last couple of months have been an exciting ride for Terra Tech Corp. (OTCMKTS:TRTC) investors. The company’s share price soared when sector-wide hype pushed all marijuana OTC players up. The ticker ran as high as $1.40 per share just a few sessions ago but it’s now locked in a slide that is burning through trader profits just as quickly as the climb that created them.

The company has been keeping silent for a while now, with a single new press release mentioning TRTC in passing. There is little else happening with TRTC on the press announcement front. A stock-focused website published a hugely optimistic piece on TRTC yesterday but even that did not manage to stop the drop. The article in question highlighted the news that Clark County commissioners approved medical marijuana dispensaries. TRTC are still awaiting approval of their marijuana license for Nevada.

There was also another batch of Form 4-s published by the company yesterday, disclosing that three of TRTC‘s directors disposed of a total of 300,000 common shares, or 100,000 each. Insider selling never did the share price of any company much good, especially when insiders are cashing out during a drop from a new high.

TRTC has had its price sliced from $1.40 down to $0.97, a drop of about 30% in a little over a week. Whether the insider selling is already baked into TRTC‘s last closing price or not remains to be seen.

Other marijuana tickers that were heavily traded yesterday include Growlife, Inc. (OTCBB:PHOT), who once again led the pot-pack. PHOT managed to reverse a red streak and close 7% up on 40 million shares changing hands. GreenGro Technologies, Inc. (OTCMKTS:GRNH) tumbled after banging on the $0.70 mark and failing to pierce it, closing 13% down yesterday.