VeraSun stock soars after IPO
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The market debut of VeraSun Energy Corporation, the second-largest US ethanol producer, raised $419.8m. The shares in the company soared by as much as 30 percent (but are down almost 10 percent today) on their first day of trading. The powerful debut of the alternative fuel producer is clearly a result of the rising oil and gas prices. VeraSun's stock is not the only ethanol producer performing well. ADM, the largest US ethanol producer saw its shares rise more than 85 percent in the past year. Shares of Pacific Ethanol, a California-based ethanol producer and distributor, and MGP Ingredients, a producer of ethanol and other ingredients and distillery products, also rose on the day of the VeraSun IPO.
[Source: MSNBC, with a tip from Angry Engineer Eric]
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