World Moto, Inc. (OTC:FARE) f.k.a. Net Profits Ten Inc Crumples as Expected

When I started covering World Moto, Inc. (OTC:FARE) f.k.a. Net Profits Ten Inc back in December I got some negative feedback for saying it was just another Awesome Penny Stocks (APS) pump.

At this time the doubts about that should have dissipated. On Friday, after another dismal session, FARE closed down 35.34% at $0.0311 per share, to the tune of 65 million shares.

After the close FARE came out with a press release supposed to be an investor update. The management is desperately trying to halt the free-fall of its stock’s price, calling it “volatility;” a questionable word choice, considering FARE is down more than 90% from the peak.

Addressing stock price movements may be a decent idea, however, with FARE the ship has already sailed. The management didn’t say a word about the paid pump when the price was moving up, and that was the time when shareholders needed a warning.

On a more positive note, FARE hasn’t been a disaster for everyone. It went the way of TagLikeMe Corp (PINK:TAGG) and other older APS pumps. So those who realized it was a pump had a chance to make some profits off of it. Assuming they managed to get out before the crash.

Meanwhile, APS said in a couple of emails on Friday, that the new pick will be coming out tomorrow (Tuesday). Considering the history of APS, including FARE, we urge readers to be extremely careful with that pick.