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SC Iowa | that Pacific outfit has always fit the definition of a Ponzi scheme for me......it was one of the few publicly traded companies at the start of the ethanol boom and their stock went nuts....at the time they had 1-2 ethanol plants worth about $150-200 myn max, and they had a stock value of about $800 myn.......I think that is when I shorted them at $44 and change....
for all his foibles, Jim Cramer can come up with some sage statements.....one time he said "there is no shortage of ethanol, just a shortage of ethanol stocks to trade in"....which told me a lot of folks would pile in and drive 'em to the moon.... | |
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Changes in value of a couple of ethanol stocks
