As many experienced while they were anticipating the penny stock to begin trading, World Moto Inc. (FARE) not only began trading, but ended bright red again. The share price dipped almost immediately as the post 3Pm trading began on FARE stock sending it to a price that would cost the equivalent of 10 shares just to get a Bangkok motrocycle taxi to take you 1KM. Since the trading has just begun and there is no true sense as to whether a “Rock and Roll” type awareness is soon to begin on the makers of taxi meters for the motorcycle taxi industry, perhaps traders should remain curb side until some gas gets put in the tank
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FARE Stock Chart
Market Cap: 14.96M
Close: 0.102 ▼ 0.048 (-32.00%)
Volume: 1,624,700
Dollar Volume: $184,290
High: 0.19
Low: 0.10
Trades: 148
Average Trade Size: 10,977
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No news has been released since the website launch was announced more than at the end of November. However, looking at the insiders who own 212 million shares are held by Paul Giles, President and CFO, and Christopher Ziomkowski, Chief Technology Officer, the float of 146.69 million shares leaves a lot of room for this start up with no assets or current revenue generators to be “fair”ly priced at roughly a dime.
About FARE Stock
World Moto, Inc. is the global authority on the $500 billion dollar a year motorcycle taxi industry and creator of Yes, the world’s most unique concierge service. Click here to view the SEC filings for FARE.
Trading History:
| Date | Last | Change | % Change | Volume |
| 12/11/12 | 0.1020 | -0.0480 | -32.00% | 1,624,700 |
| 11/16/12 | 0.1500 | -1.0500 | -87.50% | 5,000 |
| 11/09/12 | 1.2000 | -1.3000 | -52.00% | 1,000 |
Bottom Line: FARE is damn worth having on the list of penny stocks to watch, especially since its only been trading for less than an hour. Based on some teasers released last night, there is a possibility that FARE stock could be the focus of an under-performing awareness group which could mean that shares are owned for less than the length of time they traded yesterday. If it is not victim to some Locking and Loading, then it could be a strong candidate for a good penny stock to own headed into 2013.
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