PEIX down ~5%. She's lost that lovin' feelin'.
Meanwhile REX is up as it gets ready to report earnings tomorrow before the bell. However, I'd expect PEIX to move up if REX earnings are strong.
Downside risk to PEIX if market decides that ethanol (particularly in California) has peaked. That could occur as weather improves and supply by rail to California recovers.
I expect more volatility for PEIX, but their Q1 earnings report is the "event" shareholders are optimistic about, hoping PEIX pops to over $20. IMHO projecting to $4/share annual earnings based on strong Q1 earnings could (would probably) lead to disappointment as corn-ethanol spread will probably begin to trend down and remain volatile.
Focus Focus Focus Focus !!!!
