Terra Tech Corp (OTCMKTS:TRTC) Needs to Rally the Base

Terra Tech Corp (OTCMKTS:TRTC) Needs to Rally the Base

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Terra Tech Corp (OTCMKTS:TRTC) shares are down 47% for the year, with (2) two pockets of selling where volume pressured shares lower. The first in February, then again in April where shares made new lows for the year. A look at the chart below shows the depth of the selloff. It will be important to watch how the conference circuit helps get the message out for the company, they need shareholders to double down here and they need to add some new ones and hope the selling subsides.

Yesterday could have been an indication (volume) that the sellers may be out of the 3tock, and shares have put in a bottom. We need more evidence to support this, but share price has been cut in half or more so far in 2017, and we need to see when the selling will subside. Most sell-offs like this in these smaller stocks are guys who are not true investors. More often than not, they were paid in stock to perform a service as a lender, and are willing to sell at any price, and normally have a large position in the stock.

Derek Peterson, CEO of Terra Tech Corp (OTCMKTS:TRTC), talked recently about news for Terra Tech Corp. Topics covered in the interview include the recent White House comments on the cannabis industry, market penetration in California, the overwhelming successes in Nevada, the steady growth for Edible Gardens and more.

In the interview, regarding the current administration’s stance on cannabis, Peterson stated, “If we were having this conversation two years ago it wouldn’t be what it is today, but last November we had eight of the nine pieces of national legislation go through. That shows overwhelming support for an expanded regulatory environment for cannabis even in swing states. If there’s one thing this administration has built their platform around, it’s state’s rights.”

Speaking about the Nevada markets, Peterson went on to say, “What we went after was eight permits thinking we would be thrilled to get two and we got all eight. Today, we have four operational retail dispensaries spread throughout the Las Vegas area as well as Reno. We are building two large scale cultivation and extraction facilities to meet the wholesale demand for the IVXX brand.”

In other news, the company will presented at the 2017 Canaccord Genuity Cannabis Conference on Wednesday, May 10th at 1PM Eastern at The Intercontinental Barclay New York in New York City. Derek Peterson, Chairman and CEO of Terra Tech Corp., commented, “Canaccord is one of the leading investment banks with expertise in the cannabis sector and we are pleased to be invited to present at its conference. Terra Tech continues to go from strength to strength and we look forward to educating interested investors about our business.”

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$TRTC 10-Day Chart Below:The company operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, MediFarm LLC and GrowOp Technology. Blüm’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blüm offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces medical cannabis-extracted products for regulated medical cannabis dispensaries throughout California.

The Company’s wholly-owned subsidiary Edible Garden cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Winn-Dixie, Raley’s, Meijer, Kroger, and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. Terra Tech’s MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada. The Company’s wholly-owned subsidiary GrowOp Technology specializes in controlled environment agricultural technologies.

The key now for Terra Tech Corp. (OTCMKTS:TRTC) is the recovery of the share price itself with new investors coming aboard. This will be easy to spot as volume will be the driver to the story and you will need around 35 million to change hands on any rally in a single day to telegraph short covering and new investors trying to fit through the same door.

Smaller stocks like TRTC, with large floats (582M), need periods of higher volume to turn the ship in the harbor and point it out to sea. The current selloff will need to be examined closely, and any rally will need to be dissected properly to get a handle on if they can retrace the yearlong decline. For continuing coverage on shares of $TRTC stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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2 COMMENTS

  1. Most of the selling were insiders. Dropping the stock from $0.31 to where it is now $0.17 just this year. This is the worse management ever. They can’t even support their own company. Who would want to buy this stock if the management doesn’t support it.

  2. Joe, the insiders sold a total of 3 million shares over the course of 2 weeks. That’s NOT what caused the stock to drop. Idiot. The insiders sell (almost the same amount) ever year at the same time…..tax season. By the way, in the way of convertibles and preferreds, the Management group still owns over 120million shares. Idiot. Do you due diligence. The REASON the share price has cratered, is the overall share count exploded from the selling of stock options by lenders who were paid in equity, in lieu of cash. The share count went from 280 million to over 590 million in just over 5 quarters with one specific quarter (Q3-2016) where the share count increased 120million. There has also been tremendous selling from day to day retail investors, which is why the Market cap shrank by almost 50% in the same time frame. The management is doing fine. They’ve managed to grow Revenue almost 1400% in three years…. This company in still on the ground floor, and folks don’t understand that. Idiots. If they want to rally the base, hit that $40 million rev target for 2017 and keep the share count static as is. Get Banks to work with TRTC so they don’t have to be completely cash oriented, and can leverage liquid debt and the COH can be utilized for acquisitions like in a normal corporation. When that happens, the PPS will skyrocket. Idiot.

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