AMR Corporation (OTCQB: AAMRQ), the parent company of American Airlines, is seeing a pullback in mid-day trading today after the huge rally on Wednesday. AAMRQ had finished nearly 43% higher on Wednesday after the company said that its improving business prospects mean that shareholders might get something back when the company emerges from bankruptcy. AAMRQ had filed for bankruptcy in November 2011.
Meanwhile, AAMRQ today announced its revenue and traffic results for the month of December. At last check, AAMRQ was down 10.08% to $1.16 on volume of 13.14 million, which is nearly two times the daily average volume of 7.50 million.
World Moto Inc. (OTCQB: FARE), a manufacturer and supplier of taxi meters for the motorcycle taxi industry, is sinking in mid-day trading today even as the company announced that it has begun discussions to mandate use of Moto-Meters on all moto taxis within the city of Montes Claros, Brazil. Paul Giles, CEO of FARE, said that effective regulation in Montes Claros will create a domino effect throughout Brazil and other Latin American countries.
Despite the positive development, FARE is down 24.91% to $0.104 in trading currently on volume of 18.07 million. The stock has extended its losses from the previous two trading sessions. FARE has fallen more than 63% in the last three trading sessions.
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