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4th quarter is key for TRTC. Legislation is key for the US industry. Actually just as important for the Canadian MJ companies.
Terra Tech (TRTC)
Terra Tech (OTCMKTS: TRTC ) is a holding company. It engages in the cultivation and production of medical marijuana. And you don't need to be a Market Guru to see that the levels around 60 cents are important to TRTC. They were clear support in December and February. They were also support in early June.
As you can see on the chart, each of those times that the stock got to these levels it was oversold and subsequently rebounded. That is an important dynamic to understand - not just here but with all stocks.
When markets get to important support levels and they are oversold, they tend to rebound. When markets get to important support and are not oversold, they tend to consolidate before heading lower.
What does "oversold" mean? It is a measure of momentum. It is simply the price of something today verses where the price was X many days ago. When this difference gets to extremes, traders call it "oversold" or "overbought."
https://www.nasdaq.com/article/critical-levels-to-watch-in-7-marijuana-stocks-cm1169910
Remember the Alamo.
Seen it over and over. The penny markets are just a crap shoot. Even the actual companies with assets are risky.
Great closing low of .503 and not a 52 week low of .46
It hit .50 all day long and never dropped to the low of .46. Your call of .50 was easy to see with the lack of action on L2 so you don't get the swami award. Maybe tomorrow you can cheer for a lower low.
Unless we bounce. It would be nice for a bounce enough to cause concern for the shorts as well as a wet deck.
Secretly? Really? Survived? the MM's set a road block with unfilled orders. Tomorrow may be the day we get to the old low and rebound -- or not.
My guess is tomorrow is an up day.
Close .503
9 MM at .50 insures no lower than .5 and .46 was the low over the last 52 weeks.
Why not at least be original or did I teach you a new word.
It ain't closed yet, loosing track of time is an indicator.
What a laugh - Reading the 10q was hilarious. Should be made into a graphic horror novel.
Absolutely. It's all about timing and presentation. Buy the valleys and sell the peaks and it does not matter if the stock is dropping.
TRTC had runs from the .20's to the .40's routinely. and if you brought anywhere in the .20's and sold anywhere in the .40's you made a great profit over the course of over a year. It was like clock work. Add to that selling the day before 10q's and buying back the following week and you got give a crap money.
YOLO NYSE currently trading at 21.88 down 1.88% on TDA
Again .46 is the 52 week low. And it has already had a .50 low at 10:04 this morning - pay attention if you want to keep getting paid.
Of course. And I respect yours. I would suggest you look around you and check out the folks you are with. You might be surprised none own a share. I do.
Bid L2 says otherwise. Not today.
Terra Tech is on another exchange traded fund, (NYSE)YOLO, is an ETF fund for multi state operators.
Ask yourself a question. Do fund managers add failing companies to their funds?
NO
I, like lots of folks, thought MJ would be legal by now. Derek was one of them. He planned his growth based on a different outcome in 2016 and 2017.
He was a first mover in the market that was lauded by many of the same folks who deride him today for the huge growth TRTC saw from late 2015 to 2017. Then half the country went brain dead and we have what we have.
In the world of 'Everyone gets a Trophy and a blue Ribbon for waking up in the morning', blaming everyone but yourself for one's missteps is an every day event for most of the country.
Of course Derek has made mistakes - anyone in a job that demanding makes mistakes. I believe he is sincerely trying to rectify the problems and the last conference call enumerated the problems precisely. Margins and Dilution. He has said he will improve both.
I am willing to give him the time to do so.
Because they hooked up with a crooked Canadian company, Aphria, that has cost them dearly and make the stock a worse and worse choice for investing in Florida. I'd buy Curaleaf or Trulieve if I was looking for a Florida MJ stock
There are dispensaries and then there are dispensaries. And Liberties dispensaries are small retail spots like one sees for phone repairs or Computer shops. Parking lots empty for the most time and in poor areas
I spend time in Florida and I don't own or plan to own Liberty. Trulieve and Curaleaf have classy dispensaries. Liberty has 7-11 style dispensaries in rundown areas.
The reverse split is now reflected in all charts.
You watching the L2. 10 MM's at .50 - looks like a log jam.
Shorts are active. Last time we were in this area we popped up. Maybe closer to .46.
If California passes banking for MJ companies it is great news for MJ companies with HQ's in California.
Liberty began the year at .66 and is at .44 now.
Terra Tech began the year at .56 and is now .52
And now we are seeing a spike in short positions all over the industry. Little wonder.
Sure sounds like you should be trying to remove the CEO of Liberty health.
Not really, what's happening to all the MJ stocks is industry wide and with a few exceptions, most have been on a 3-4 month drop.
Several have missed expectations with poor quarterly reports.
The best CEO's will battle back. But we will not see the results until the 4th quarter at the earliest. More likely closer to March of next year will be more revealing.
Could be. The entire industry has been dropping since March. Money moves toward success and the MJ industry in the US and in Canada is stalled waiting on governments to act. So volume dropped in MJ stocks and went elsewhere.
The principle reason why investors lose money is impatience. I'll wait until the company shows me they are not focused on margins and non dilutive growth with the last two quarterly reports.
52 weeks low is 0.46
Still wonder how and why people have chosen to be so GD pleased with other people's losses? You cheer house fires? Laugh when a dog gets run over?
Honestly it makes me want to puke and regret 25 year of serving in the military to see the state of the population today.
You need to deal with Liberty. It's competition is the better choice. Both stocks TRTC and Liberty lost 8 cents over the last 5 days. Looks like you jumped out of the pan into the fire.
Liberty began the year at 1.26 and is now .44
TRTC began the year at .58 and is at .52 - a fact lost on the pest and detractors these days.
Grew to large, to early, to costly in an illegal industry in a piss poor political environment. That about sums up TRTC and many of the early US MJ stocks.
If legalization had happened in 2016 or 2017 TRTC would have been fine. Might have been fine with a different outcome of the election.
As it is now, TRTC has to hold on until legalization and focus on increasing margins and reducing reliance on share backed financing.
We will not know the outcome of that until the 3rd or 4th quarter.
I will still be in TRTC until legalization.
I may increase my share count in the .40 - .50 range (It's previous bottom). It depends on the company's conformity with it's stated goals.
If we get to the last bottom, around .46, there are lots of folks that think that is where the major turn is up or down from that point. TRTC's performance will determine it's fate.
I'm not risking anything I need. I suggest everyone do the same if they choose to invest. Nobody knows the outcome, not even Derek.
Just my two cents.
US pot companies may soon be legal. For some not to bright folks that seems to not matter.
Federally illegal means large institutions will not loan their money to US pot firms and so the pot firms have to use the equivalent of loan sharks in the financial world.
Federally illegal means no commerce across state lines. So the Blums in California can not cross level product with the Blums in Nevada.
Which means an excess of supply of product in one state can not be sent to a state with a demand. BIG DEAL for a multi-state business.
Federally Illegal means the IRS uses a punitive tax code that is meant to stop illegal businesses from making any profits.
What this does is it means accounting is slanted toward avoiding profits in favor of anything else. Employee pay, excess product, cost of equipment, property costs, basically anything, because anything is a better use of dollar than paying taxes.
Federally illegal also means all other federal agencies are not able to be used to the company's benefit.
But don't fret, it will come and you can go back to bothering folks on facebook or twitter.
IG is wrong
That is a neat word. Who would know there is a word for people eating their own crap? Having a name for it means there mush be quite a few practitioners of autocoprophagy. In today's world it should be used in main stream news daily.
As big as the hemp/CBD market is going to be, the marijuana market will dwarf it when national legalization happens.
https://finance.yahoo.com/news/federal-weed-legislation-starts-tomorrow-232747906.html
Federal marijuana reform legislation is a matter of “when” not “if” — and “when” could begin with tomorrow’s hearing (Today's Hearing)
https://finance.yahoo.com/news/federal-weed-legislation-starts-tomorrow-232747906.html
It's time to end the senseless and cruel policy of cannabis criminalization
https://thehill.com/opinion/healthcare/452186-key-congressional-committee-to-discuss-marijuana-criminalization-in
Yep, Autocoprophagy would be a better tag.
Oh wait, Stacey is a lawyer for Golden Bear Ins Co who is the first company to insure MJ companies. She and Derek are cheating on their mates and they are planning to run off with the lowest performing dispensary Blum owns and change their names and live on the proceeds of that underwater dispensary and Live happily for ever and ever.
Cool plan.
I've seen better. Much better. Typical for a 2 million dollar short. Cheap, quick and stupid.
Teen odds of using marijuana dip when states legalize recreational use
https://www.nbcnews.com/health/kids-health/teen-odds-using-marijuana-dip-when-states-legalize-recreational-use-n1027576
Congressional Democrats Tout Marijuana Legalization In Election Campaign Petition
https://www.marijuanamoment.net/congressional-democrats-tout-marijuana-legalization-in-election-campaign-petition/