New York, NY -- (SBWIRE) -- 01/11/2013 -- World Moto Inc. (OTCQB: FARE), a manufacturer and supplier of taxi meters for the motorcycle taxi industry, is down sharply in mid-day trading today, extending its losses for the week. At last check, FARE was trading 20.93% lower at $0.0850 on volume of 18.23 million, which is below the daily average volume of 24.41 million. The stock has fallen nearly 67% this week.
FARE has fallen sharply this week even as the company made some major announcements. Earlier in the week, the company announced that it opened North African regional office in Lagos, Nigeria. The company also announced this week that it is in discussions to mandate use of Moto-Meters in Montes Claros in Brazil.
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USA Graphite Inc. (OTCQB: USGT), an exploration company engaged in the acquisition, exploration and development of world-class graphite properties in North America, is also down sharply in mid-day trading today, extending its losses from the previous trading session.
USGT has seen a pullback this week after rallying last week. The stock surged last week as the company announced that it has identified West Coast of Canada as the ideal location to acquire a project that would significantly augment its operations.
USGT is currently trading 24.64% lower at $0.520 on volume of 5 million, which is well above the daily average volume of 1.49 million. The stock has fallen nearly 42% in the last three trading sessions.
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