Huge Move In Pacific Ethanol (PEIX)
Pacific Ethanol Inc, (NASDAQ: PEIX) is up an astonishing 85% today after having a huge day on Friday. On the last day of trading last week, the stock moved from 89 cents to $1.43. Right now the shares are trading hands for $2.60 on more than 15 times average volume.
On Wednesday of last week, the company announced that it had resumed operations at a southern Idaho ethanol plant that had been shut down for nearly a year. Pacific Ethanol, Inc. (PEIX) produces and sells ethanol and its co-products, including wet distillers grain, and provides transportation, storage and delivery of ethanol through third-party service providers in the Western United States. The company's market cap after its recent run up is still only $155 million, so it is a very speculative play, but for those that got in at the right time the returns have been incredible.
