Boston, MA 03/25/2014 (wallstreetpr) – Shares of Terra Tech Corp (OTCMKTS:TRTC) which had been seen going down in the past week after insiders were noted to be selling their stocks, was able to put a stop to its fallout during Monday session. The stock managed a double digit gain and shifted far more shares than on a normal trading day.
By closing bell, shares stood at $1.04, up 18.86 percent. The day saw 7.79 million shares shifting hands against 6.6 million shares usually traded on a normal day. Shares of the $128.52 million market capped company changed hands between $0.92 and $1.05 during Monday session. In the past 12-month time-frame, traders shifted the shares between $0.06 low and $1.42 high.
The fall and rise of Terra Tech
The fall of Terra Tech Corp (OTCMKTS:TRTC) was fanned by regulatory filings revealing that insiders unloaded a total of 300,000 common stock shares of the company. Three directors of the company were involved in the selling which left investors wondering why it happened just when the stock was attaining impressive climb. Thus, the stock started its descent as investor confidence faded.
However, Monday saw the shares back on positive grounds after the company announced that it was developing a medical marijuana-related facility. In a press release, Terra Tech informed about a research and extraction facility that will be used to extract cannabidiol. The company went on to say that an extractor unit to be used in the facility has already been purchased.
The news was received positively by investors and the shares managed to climb by double digit in the previous session.
Hype of medical marijuana
Before the descent in the stock which came last week as insider selling caught attention of investors, Terra Tech Corp (OTCMKTS:TRTC) was climbing due to the company’s sentiments about marijuana venture. The company talked about its plans to grow cannabis in its hydroponic facilities where it currently grows lettuce and basil.
The talk of marijuana venture is currently keeping investors at the edge of their seats. And the stock found wings in the original climb because of its marijuana prospects, and the same reason can be seen back influencing the current climb.
