In November 2014, the stock price of Terra Tech Corp (OTCMKTS:TRTC) crossed the hurdle of 50 cents per share. However, it failed to build on the gains and from there on has been moving south on the charts. On July 21, 2015 the stock declined to touch the level of $0.0795, which is close to the all-time lows of TRTC.
Compared to the other penny stock firms and particularly the ones active in the medical cannabis industry, Terra Tech appears to be a step ahead. It is recording respectable revenues largely boosted by IVXX subsidiary unit that deals in medical cannabis extracted products. In fact, most of the recent Press Releases issued by the company have been reporting addition of more retail locations selling IVXX’s products. On July 21, four locations were added and on July 28 five more locations were announced. Even the company issued a PR today wherein it revealed that it added seven new Los Angeles based retailers.
Terra Tech Corp (OTCMKTS:TRTC) is reporting revenue but overall numbers remains disappointing. As per 1Q2015 report, the company had $274,000 in cash. The total current assets came at $1.56 million against total current liabilities of $5.46 million. It reported revenue of $763,000 and net loss came at $2.1 million. Here, it is evident that Terra Tech is still far away from turning into a profitable firm. Also, the report reveals massive working capital deficit of $3.9 million.
The bounce back
After hitting the low of $0.0795 few days ago, the stock bounced back and has posted significant gains in last five trading sessions. On Tuesday, the stock recorded one of the best trading sessions gaining almost 29% to close at $0.143. The positive momentum continued in last trading session as Terra Tech stock jumped more than 24% to close the trading session at $0.178. The gains came at a share volume of 5.24 million compared to average share volume of 927,761.