Why Pacific Ethanol Stock Bounced 13.5% on Friday
Shares of alcohol manufacturer Pacific Ethanol (NASDAQ: PEIX) were up 13.5% at 11 a.m. Friday. There does not appear to be any news specific to the company behind the rise.
But there is reason to favor Pacific Ethanol as a coronavirus play since it is evolving past its historical role as a provider of ethanol as an additive to gasoline (to fight smog and diminish reliance on imported oil). It is now more focused on producing ethanol that can be used to manufacture disinfectants and hand sanitizer in the fight against COVID-19.
Source Fool.com
