Why Pacific Ethanol Stock Shot Higher Today
Shares of Pacific Ethanol (NASDAQ: PEIX), which makes alcohol products for disinfectants, beverages, renewable fuels, and more, soared higher Thursday morning, trading up by 24% as of 12:19 p.m. EST. But there was no obvious reason for that sharp move.
Nothing tied to the election seems like it would directly impact this company. (I suspect that at this point in the coronavirus pandemic, both political parties are in favor of hand sanitizer and disinfectant.) No analyst upgrades or price target hikes for the stock have hit the wires recently, either. The company's third-quarter report isn't due out until Monday -- and based on management's preliminary estimates, when those numbers do arrive, it looks like Pacific Ethanol will deliver an earnings miss.
Image source: Getty Images.
Source Fool.com
