Terra Tech Corp (OTCMKTS:TRTC) Gets Smashed In The Ground
Terra Tech Corp (OTCMKTS:TRTC) lost 11.03% of its market value yesterday, when the market reacted to the publishing of its latest financial report.
Interestingly enough, TRTC opened with a slight gap up. Unsurprisingly, it then didn’t take long at to plummet to below $0.13, where the ticker kept struggling for pretty much all of the remainder of the session. Why?
Because said 10-Q can hardly be called anything but a disappointment. The figures in it are simply atrocious:
- Cash – $2.1 million
- Total Current Assets – $3.3 million
- Total Current Liabilities – $5.3 million
- Quarterly Revenues – $5 million
- Quarterly Net Loss – $4.8 million
True, these numbers don’t hint at the idleness characteristic of most OTC Markets’ marijuana penny stock out there. Indeed, one might well look at said 10-Q and come to the conclusion that it describes a significant step forward for TRTC. This is saying something, since even in its improved state, the numbers in the filing are still terrible.
Perhaps it was the company’s continued failure to make ends meet that drove investors away in yesterday’s session. Perhaps it was the looming threat of crushing dilution that the filing revealed. Perhaps it was the realization that 18 months after the the legalization of marijuana in the USA the company has nothing substantial to show its investors, in spite of being advertised and traded as a pot-stock.
Or maybe it was the combination of any or all of these possible reasons. At the end of the day it’s all the same – investors recoiled from TRTC, and it is unlikely that the company will be able to get back into their good graces any time soon.
