A rare down day for Pacific Ethanol
Pacific Ethanol Inc. (Nasdaq: PEIX) suffered a rare down day today when it closed down $1.51 (4.83%) to $29.74. The selling started after another scorching start which saw the stock reached its 52 week high of $33.93. This is strange territory for Pacific Ethanol since its seen only a few down days in its incredible run. The stock was close to hitting the 1B market cap this morning but that?s when the selling started. The volume was very high today and it seems like there is a lot of insider selling going on according to Yahoo! Finance.
Tomorrow will be interesting since I don’t remember PEIX go down two consecutive days. Also check out the latest pics of the Madera plant on the company’s website here. The plant seems to be coming along very nicely. The annual report should be coming out any day now.
- WSJ reports on Pacific Ethanol Insider Selling
- Pacific Ethanol completes the construction of its first plant. Production will start October 17th.
- Third Pacific Ethanol plant likely to be built in Visalia, CA
- Heavy Insider selling continues at Pacific Ethanol
- Green Plains Renewable Energy Inc. (Nasdaq: GPRE) more than triples on its IPO on 3/15/2006
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