Dilution has just started. 5.5 Warrants out.
Warrant holders can 'short' all they want and be covered down to $7.5.
Najaran should have done his homework when he said 'On March Expiration day" that there was a 'train issue' OUT WEST... The challenge was in the EAST.
West was riding a phony horse. The money he made in March he probably lost in April.
Some in the ETHANOL industry was scalping its own market,
destroying its E15 E85 base for a few months of profits.
Now Big Oil has something to complain about: you cannot keep your trains on-time.
Ethanol Industry is passing the blame to the railroads.
You got to treat your 'customers' ( blenders) right.
Now they are out buying supplies from other suppliers.
The public ( Mr Joe and Jane driver) is now learning why gasoline will be
more expensive this spring.
Now Watch :
1 Price slide, Margins get thinner, Stock dives
2. The Ads. by Big Oil ( ethanol cost you money "did this to you")
****************** better course woud have been to use 4Q cash to refinance right there and then, and second choice to lock-in low corn cost in that order. Not hand-over your cash to the deb holders, again and again, and then dump your shares at a lower price to the bankers to load-up on your stock 'lovers' **********!