Jessi, I can tell you that the PEIX production margin was up yesterday to $1.194. I can tell you that corn is falling off a cliff this morning. Beyond that, I have always been at a loss to predict the short term reactions of the market - like this morning's sell off. To me this morning looks like the short side managed to stampede some traders into selling, who likely don't even know the relationship of corn prices to ethanol and only saw ethanol drop 3 cents. (that or they somehow think PEIX is related to Apple :/ )
Predicting how the market will react in the short term to a very positive move in buying up another 5% of plant ownership is completely beyond me. Sorry.
BTW I say positive for a very simple reason. As of the last 10-Q, the plants were valued at approx $155M net to PEIX. Remember, that was for 91% ownership, or $1.7M per percent. A 5% purchase would thus be valued @ $8.5M, so the price paid would certainly be well below PEIX's book value, let alone an open market purchase in this current ethanol environment.
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