Green Plains Renewable (GPRE) Surges Higher As Traders See New-Life In Ethanol
Ethanol company Green Plains Renewable Energy, Inc. (Nasdaq: GPRE), is seeing upside action today. Share are up 36% on heavier-than-normal volume.
This could be a break-out type situation. The stock has been higher every day this week and last week - 9 straight sessions!
Back on 5/21, Green Plains bought two ethanol plants located in Nebraska from lenders of bankrupt VeraSun Energy. The deal will increase Green Plains's ethanol production capacity by 45%, from 330 million to 480 million gallons per year.
With crude surging, maybe some investors are looking for opportunities in ethanol again.
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