There are many marijuana stocks including Terra Tech Corp (OTCMKTS:TRTC) that seems to have missed the much-awaited “420” hype in 2015. The disappointment was evident on the stock prices as they declined to close deep in red. On Friday’s trading session, the share price of Terra tech dropped more than 3.53% to close the trading session at $0.164. The drop came at a share volume of 1.76 million compared to average volume of 1.31 million.
The buzz
In second week of April, Terra Tech announced that its new range of IVXX product line will be available in a new medical dispensary in California. It was a positive announcement that failed to boost the stock price of the company. The reaction indicated that the investors are not no more thrilled with the news coming from the firms operating in marijuana sector.
The financials
Terra Tech Corp (OTCMKTS:TRTC) reported its annual figure on March 27, 2015. The company recorded cash of $846,000 and $6.4 million in current liabilities. It posted annual revenue of $7 million while the net loss for the fiscal came at $22 million. The report also failed to instill any optimism among the investors.
Meeting forecasts
The investors might not be excited from the annual report but definitely there was a silver lining in the numbers. The company managed to achieve its annual revenue forecast of $7million. It is a different thing that revenue came from Edible Gardens. Moreover, the revenue accounted for just $152,000 in gross profits. The selling, general and administrative expenses came higher at $18 million. The coming year can witness revenue from marijuana segment. Terra Tech intends to starts its operations in the Nevada in this year itself. As per the plans, dispensaries will be shifted first and then cultivation operations will be commenced in the last quarter of fiscal.
