Could The Ethanol Craze Come Back On the Jump In Crude?

May 29, 2009 12:06 PM EDT

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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Stocks Mentioned

BDCO 5.18

+0.36 +7.47%
Volume: 11,838
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BIOF 0.63

-0.06 -8.70%
Volume: 1,738,358
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FPP 4.81

-0.08 -1.64%
Volume: 27,030
Track FPP

FUEL 3.72

-0.12 -3.13%
Volume: 77,143
Track FUEL

GPRE 11.19

-0.42 -3.62%
Volume: 334,077
Track GPRE

MGPI 6.35

-0.13 -2.01%
Volume: 13,134
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MXC 6.75

+0.07 +1.05%
Volume: 800
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OMNI 2.74

+0.00 +0.00%
Volume: 68,275
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PDO 3.90

-0.02 -0.51%
Volume: 8,550
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PEIX 1.14

-0.04 -3.39%
Volume: 7,199,476
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SSN 2.08

-0.05 -2.35%
Volume: 1,023,584
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VRNM 2.71

-0.01 -0.37%
Volume: 27,190
Track VRNM


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