Pacific Ethanol, Inc. (NASDAQ:PEIX)
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The Company is engaged in the production, marketing and sale of ethanol and other renewable fuels in the Western United States.
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The Company is engaged in the production, marketing and sale of ethanol and other renewable fuels in the Western United States.
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-Coming back from bankruptcy. -Replacing debt with equity effectively increasing the risk capital and reducing debt service pressure on cash flow. Traditionally replacing debt with equity is taken as sign of lack of confidence on expected return on capital. But it is just my opinion that in current situation it is a prudent move. Look at big banks buying back preference shares from Buffet...........they are also taking the same decision.-Rising crude oil price will provide scope of increasing realization on ethanol.-yes it is a bit early but outsized returns are made from identifying the tide early.-got in immidiately after earnings release @ 0.38. accumulating more on each dip. Technically first resistance is around $2. Will take partial profit there.-stock is hard to borrow. There is strong short interest. Translating into high interest rate you can earn by lending this stock. I received 19% interest yesterday by lending my peix to short sellers. High rate will make it hard for shorters to carry over short position too long.