Why Pacific Ethanol Stock Plunged 16% This Morning
If you haven't noticed it yet, Pacific Ethanol (NASDAQ: PEIX) stock is on kind of a tear. Year to date, shares of the alternative-to-gasoline fuel maker have quintupled, booking a fivefold gain from $0.81 per share at the beginning of this year to surge past $4 a share by close of trading Wednesday.
Today, however, Pacific Ethanol is down heavily. Early in the morning, the stock lost more than 16%. It's pared those losses as the day has worn on, but at a recent share price of $3.85, the stock is still down 5.2% in 10:50 a.m. trading.
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Source Fool.com
