Why Pacific Ethanol Stock Just Dropped Another 7%
Pacific Ethanol (NASDAQ: PEIX) has been one of the most successful stocks on the Nasdaq this year. Specializing in the production of alcohol (ethanol) that can be used not just as a fuel additive, but also to create disinfectants and sanitizers, turns out to be a great business to be in in the middle of a virus-spread pandemic. Recognizing that, investors bid Pacific Ethanol shares up five-fold through Wednesday's earnings report.
Then, yesterday, Pacific Ethanol stock crashed. And it crashed again today -- down 6.9% through 11 a.m. EDT. Why?
Image source: Getty Images.
Source Fool.com
