Green Plains Renewable Energy Inc. (Nasdaq: GPRE) more than triples on its IPO on 3/15/2006
Just wanted to write a little about Green Plains Renewable Energy Inc. (Nasdaq: GPRE) which had its IPO on Wednesday, 3/15/2006. With a lot of interest in Ethanol lately and lack of pure play ethanol stocks available to invest in, this seems to be a perfect time for Ethanol companies to go public. Here’s the company information from its website, Green Plains Renewable Energy, Inc., (Nasdaq: GPRE) an Iowa Corporation, was organized to construct and operate a 50 million gallon, dry mill, fuel grade ethanol plant (”the Plant”). So as it turns out, they don’t have any operational ethanol plants at the moment. They are building a plant in Iowa and they have some pics on their website here.
So you have Pacific Ethanol (Nasdaq: PEIX) and GPRE, both of which have been on a tremendous run recently but neither companies produce any Ethanol yet. Is there a bubble forming with all these ethanol stocks? I haven’t done much research into GPRE so I am not going to comment on it yet. PEIX has been recommended since December, 2005 and continues to be on the ‘My Recommendation’ list.
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