World Moto, Inc. (OTCBB:FARE) Tries Another Recovery
This time, World Moto, Inc. (OTCBB:FARE) may show something more interesting, as in the past months it managed only false recoveries, spiking one day, only to continue the sideways movement. Now, FARE has added more than 38% on 5.9 million shares bought, a slightly better volume and a break from the long selling trend. A new press release, the first since April 17th, helped move things along, and the next few days will show if FARE will keep something of its old achievements. But at 6 cents, the stock is far from its promotional height. 
On paper, FARE still holds longer-term promise, and this is the message of the last publicity statement. The company stated it received an approval from Thailand’s government science agency, and now FARE may locate its Research and Development offices in the country’s most advanced technological park. 
But even the tax heaven and the best technological talent may not bring the products of FARE to market faster. It’s still unknown when the motorbike taxi meter will become mainstream in busy urban areas worldwide.
FARE seems to have a long development ahead, and for this it has the following financial resources:
- $75 thousand cash
- $309 thousand total assets
- $2156 total current liabilities
- Zero revenues for the past two years
- $227 thousand net loss
The company supplemented the process by attracting a private investor who bought $1 million worth of shares at 27 cents, a price long gone, so there is little danger the owner would sell any time soon. While FARE holds potential to continue and even become a marketing success, its short-term stock movements especially at the new low price may depend more on sentiment and the occasional promotion. Penny Stocks 123 expected FARE to rise from its 14-cent levels very soon, and touted the price as a last chance to buy the dip.
FARE was touted by several professional pumpers, among them Awesome Penny Stocks, as well as Penny Stocks 123. It is easy to see how pumps do their damage. Penny Stocks 123 stopped its last promotion in February, clearly illustrating what happens to stocks when they are abandoned. Swingplane Ventures, Inc. (OTCBB:SWVI) dropped like a rock, losing 95% of its values from a healthy $1 price to just 5 cents, turning into a risky short-term play. So before believing the potential of FARE, keep in mind that a heavily promoted stock is unpredictable and stay away unless you can afford the losses.
