Pantry, the largest seller of gasoline in the Southeast is about to move to a 10% ethanol blend. You figure they sell 2.2B gallons of gasoline a year. Other positive comments for ethanol too. http://seekingalpha.com/article/54417-the-pantry-f4q07-qtr-end-9-27-07-earnings-call-transcript?source=yahoo
That is why this is your typical pump and dump and the reason I stayed away from owning shares from the beginning. Start with a reverse merger then buy up all your buddies companies and hand out free stock then get a public offering and pump the hell out of it. No doubt the SEC will be looking into these guys!
You need to fire all the executives from Peix and let them cash in their $4.00 dollar per share stock. Normal people can run a ethanol plant, and would glady run the plant for a few bucks. Ethanol is just plain moonshine even the hillbillies in Kentucky know how to do it. You just have too many people sucking up the profit at the top. Beside ethanol should be trading at a premium in California.
This is about the dumbest thread I've seen on this board... Jeeez. Cascade made an INVESTMENT to see this company through their startup and plant building period.
This trader mentality that permeates the markets these days is symptomatic of the short term expectations of todays generation of stock buyers. I just wish the principals of this company would exhibit a little faith in their own company's future by doing some insider buying. Let's ask why they have not at the next share holders meeting.
Till now every support of PIEX showed bill gates investment. Now for some reason he realized PIEX won't make profits and ready to take a loss. Share prices may swing by some %, what would have made Gates to take a loss and move forward??????????????????
Ethanol may be future for now but crush spread PEIX having is lower than others by 10 cents. I wish PEIX make those 10 cents so when their 220 M gallons come online profits will soar to 22 Million dollars. With improving infrastructure ethanol shipping cost will come down which will put more pressure on PEIX and make them out of business.
Bill Gates will be saving PEIX .85 cents per share annually on his 10.2 million preferred stock sell. With ethanol up .30 or more cents a galoon. Peix could break even for the forth quarter. Howevee if bill Gates doesn't have a buyer line up. 10.2 million of common stock will be hard to sell unless of course Peix goes below the $4.00 dollar mark. I'am holding off until the Bill Gates sell is over with.
Excellent! And about time for Golden Panties (as an ex-girlfriend used to call them)to get with it.
Might want to think bout CSX or Norfolk southern too as Rail from the MW is the way to go here. Should take a good bit of the pricing pressure off of PEIX!
The good news is that as sellers realize it's cheaper to blend with ethanol and it improves profits it will suck up the short term excesses in ethanol supply as too many plants were built too fast. This also encourages distribution to get more efficient and in place. It helps all, particularly the midwest. PEIX is unique in that they can offset transportation costs of ethanol from the midwest, so that provides probably 5-10 cents in savings per gallon for west coast blenders.