Could The Ethanol Craze Come Back On the Jump In Crude?
The 30% move up in MGP Ingredients (Nasdaq: MGPI) could be related to the new found interest in ethanol as the price of crude roars higher. One stock we just wrote about, Green Plains Renewable (Nasdaq: GPRE), has been up every day for the past few weeks - doubling in price. Nearly all the other publicly-traded ethanol companies are now in bankruptcy or in desperate shape: VeraSun, Aventine (AVRNQ), Pacific Ethanol, Inc. (Nasdaq: PEIX), BioFuel (Nasdaq: BIOF). MGP Ingredients appears to be exiting the ethanol business, but that doesn't mean traders can't associate the name with a possible resurgence.
Verenium Corporation (Nasdaq: VRNM) is another ethanol-related stock that could see interest.
Traders may also want to keep an eye on the second and third tier gas/oil stock which could see interest again if crude continues to run higher. Some of those include: Mexco Energy Corp. (AMEX: MXC), Pyramid Oil Co. (AMEX: PDO), Fieldpoint Petroleum Corp. (AMEX: FPP), Samson Oil & Gas Limited (AMEX: SSN), Blue Dolphin Energy Co (Nasdaq: BDCO), SMF Energy Corporation (Nasdaq: FUEL), OMNI Energy Services Corp (Nasdaq: OMNI).
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