Gevo Inc. Doubles After Deal With Alaska Airlines For Jet Fuel

Loading...
Loading...
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
'' Gevo Inc,
GEVO
shares are trading higher by $3.07 at $5.52 in Thursday's session. The catalyst for the rally is the announcement that Alaska Airlines will be purchasing the company's alcohol-based jet fuel. The issue, which had been hanging at $2.50 level over the last five trading session, immediately popped over $4 in premarket trading retreated to $3.60 right before the opening of the regular session. After a brief dip to $3,28, buyer reemerged in full force taking the issue though the remainder of the $3,4 and $5 handle finally stopping at $6.11 and pulling back to it current level. Its current high is the highest level for the issue since it peaked at $5.98 on December 4. It should be noted today's rally is taking place on much higher than average volume. So far, it has traded 25.5M shares versus its twenty day average of 1.6M with three hours remaining in the session.
Posted In: TechnicalsIntraday UpdateMoversTrading IdeasPre-market outlook
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...