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Why Pacific Ethanol Stock Just Popped 8%

·2 min read
Why Pacific Ethanol Stock Just Popped 8%

Pacific Ethanol (NASDAQ: PEIX) stock soared in early trading today, rising as much as 11% before finally retreating as the day wore on. Pacific Ethanol is a small company with a lot of debt -- $455 million in market capitalization, but owing $185 million to its creditors, according to data from S&P Global Market Intelligence. This morning, though, Pacific Ethanol announced that it's making progress whittling down that debt load.