Biofuel Micro-Caps Posting Big Gains On Sparse News (PEIX, BIOF, VRNM, CDXS)
Biofuel stocks took off on Tuesday despite an energy pullback and a lack of sector-specific news.
As a whole, the Ethanol and Biofuel Stocks Index is up by 2% today as Pacific Ethanol (PEIX) makes a 14% leap to above the $1 mark for the first time since May. The stock is now ahead by 47% over the past five sessions, trailing only BioFuel Energy (BIOF), which is surging by more than 40% in today’s session alone.
The absence of news suggests that more volatility could be ahead for the sector’s small-caps, but with all but one of the Index’s 11 components in positive territory over the last week, it will be interesting to see if momentum can carry shares higher.
Investors can track the Ethanol and Biofuel Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
Pacific Ethanol, Inc. Signs Definitive Agreements to Raise $53.5 Million (Benzinga, 9/28/10)
Greenlight Capital Files 13D on BioFuel Energy (BIOF), Provides Bridge Loan (market folly, 9/27/10)
Pacific Ethanol, Inc. Closes Previously Announced Transactions (Benzinga, 10/7/10)
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