After plunging in mid-December, TRTC stock is finally paring some of those losses. Currently selling for $0.78, the stock has climbed a further 19% today, as investors excite over the recent insider buying in Terra Tech (OTCQX:TRTC).
TRTC Stock Insider Buying
It seems TRTC’s own team may consider this stock seriously undervalued as further insider buying has been reported. Its own CEO, Michael Nahaas, purchased 50,000 shares of TRTC stock in a transaction on the open market, dated to December 30th, 2018.
Not to be confused with insider trading, insider buying is perfectly legal. In fact, insider buying usually excites investors. It suggests that the company’s own team believe it to be undervalued, meaning potential gains are on the horizon.
TRTC Stock Signals
The news is sending out strong signals to investors, and TRTC stock seems to be reflecting it; shares have been steadily increasing since 2019 kicked off.
It’s simple really; an insider usually only spends their cash on their own company stock in the open market if they are expecting to make a profit.
But this is not the first time Terra Tech Corp has made insider purchases.
In the case of TRTC stock, three different insiders purchased 133,000 shares at an average price of $2.03/share, for a total of $269,609 earlier in 2018. In this case, multiple members made investments at the same time, indicating future potential.
The following image is a summary of insiders buying amounts from 2018:
However, because these TRTC stock transactions were made before cannabis was made legal in Canada, it was easy to assume they were made on the back of hype. After all, everyone was buying cannabis stocks during that time!
The Bottom Line
Nahaas’ investment is more exciting because the hype is over and the industry is in full swing. Therefore this purchase has created a different sentiment across the market. This is why this move is more interesting and has sparked a fire under TRTC stock.
Featured Image: Canva