Pacific Ethanol, Inc. (PEIX) Shares Balloon More Than 15 Percent Tuesday Only to Deflate During After-Hours Trading
Buoyed by a strong market and bargain-hunting investors, shares of Pacific Ethanol, Inc. (PEIX) soared more than 15 percent, or 66 cents, to reach $4.95. The Sacramento, Calif.-based renewable fuel producer reversed its troubling downward trend that saw share prices plummet 70 percent in just a year. After-hours trading was not as kind, sending shares spiraling nearly 7 percent to $4.61 after the company filed a Form 8-K with the Securities and Exchange Commission stating that it is anticipating a $14 million loss for the 2007 fiscal year. Pacific Ethanol has limited liquidity and requires additional financing to cover operations,…