World Moto, Inc. (OTCBB:FARE) Slows Down Ahead of Weekend
World Moto, Inc. (OTCBB:FARE) had a successful run, but as the week grew older, profit-taking pulled the ticker back from its heights. The fall was slower, about 3% on Thursday, on dollar volumes of above $229,000. FARE still has a lot of upward pressure that may take it to new levels, yet investors are taking their time, and the lack of promotion also means a more subdued growth.
On Thursday, FARE came up with a new press release, this time detailing the sale of 10 items of the Wheelies advertising system in Thailand. Mobile Advertising Ventures Ltd is the new lucky owner, and the price is for now, symbolic- a revenue of $35,000. Still, it is encouraging that FARE is nearing viable sales, since it was sinking in development costs until now. For FARE, though, the most important work would be selling its Moto Meter to motorbike taxi companies, and so far there is little mention of such contracts.
The news did not thrill the markets too much, given that FARE made a preliminary announcement for the sales. There is also an option to sell a further 190 Wheelies at $3,500 per piece in the next five years, but we still have to wait and see if the device takes off.
Until we wait for FARE to fulfill its destiny, it’s time to see how similar companies are doing. Recently pressured ImageWare Systems, Inc. (OTCMKTS:IWSY) is moving up again, adding more than 7% in the day to easily snag the $1.80 levels, though on subdued buying a bit above $314,000.
Liquidmetal Technologies, Inc. (OTCBB:LQMT) is in a groove again, stuck around the 17-cent levels, at least until the company posts something more encouraging about its development.
Investors’ forums are iffy, with some seeing the longer-term potential, while others doubtful that the upward trend in price will keep. Others advice patience, seeing the current prices as too low for this kind of company.
Though when it comes to OTC companies, rarely anything is too low, and even solid businesses with sales and prospects could fall down to selling pressure. In the case of FARE, decide well what your time frame will be, and avoid investing unaffordable sums, which may still be wiped out.