You're making an assumption that the drop in the share price from $3.45 to the current price is the direct result of that one statement from the CEO. You're neglecting many other factors, such as the market price of ethanol and the Midwest flooding which damaged the corn crop, according to this March 21, 2019 CNN story, which was updated six days later.
Farmers in parts of Nebraska and Iowa had precious little time to move themselves from the floodwaters that rushed over their lands last week, so many left their livestock and last year's harvest behind.
Now as they watch the new lakes that overtook their property slowly recede, some have a painfully long time to reflect: They lost so much, staying in business will be a mighty struggle.
Across parts of the Midwest, hundreds of livestock are drowned or stranded; valuable unsold, stored grain is ruined in submerged storage bins; and fields are like lakes, casting doubt on whether they can be planted this year.
Pacific Ethanol has two production facilities that are located in Aurora, Nebraska.
Spring has finally sprung and it looks like Nebraska may have turned a corner with the weather -- for now. An excess of moisture and a typically temperamental season has some worried about what may happen in the coming days, but farmers seem to be calm and optimistic.
Because farmers in the hometown of Pacific Ethanol's production facilities in Nebraska are optimistic about their crops, I'm optimistic about the future of that production facility, and optimistic about this company (and this stock), especially since the Book Value of this stock is more than six times the current trading price!
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