The performance of Terra Tech Corp (OTCMKTS:TRTC) stock since the beginning of year hasn’t been impressive. Apart from a few positive trading sessions, the main direction in which TRTC stock price is heading is south and it has reached new 52-week lows.
Terra Tech stock price was declining through most of last week and even lost more than 3% on Friday’s trading session when it closed at $0.1575. The total amount of shares traded during the session was 1.2 million and generated $192,000 in daily dollar volume. Even in last trading session, the stock consolidated and managed to gain just more than 1% to close the trading session at $0.16 on share volume of 883,745. In today’s’ trading session the stock lost 8.76% and is now trading at $0.124 on a volume of 849,905 shares.
Terra Tech recently submitted its latest financial report and the momentum of stock clearly indicates that it was not as per the expectations of investors. As per the quarterly report, the company cash balance came at $274,000. The current assets stood at $1.56 million while current liabilities came at $5.46 million. The revenue in quarter was $763,000 and net loss came at $2.07 million. The numbers were not enough to halt stock incessant decline, and the press release issued in last week of April didn’t help either.
Terra Tech Corp (OTCMKTS:TRTC) issued a press release in last week of April that helped the price to halt its decline for some time. However, the news was not connected with marijuana operations, but was linked with its Edible Garden subsidiary. In June 2014, the company stated that Edible Garden produce will be sold in selected Walmart locations. Now, it revealed that the alliance with Walmart has been extended. As per the new deal, an additional four new centers of Walmart will distribute Edible Garden products to an additional 75 stores each. The expansion of the agreement was possible due to the superior products delivered by company’s subsidiary.