Opinions
Steve Martin
VeraSun Energy Corp.
VSE-N
TOP PICK
Nov 22, 2007
Top Short Economics on ethanol refiners has gone right down the toilet. Not making any money and are aggressively ramping up capacity. As they ramp up, construction loan financing terms are almost like that teaser rate mortgages. In the next month or so, the US admin may update the renewable fuel standards, which would give a pop to the stocks. Wait till this comes out before shorting.
$9.810
Stock price when the opinion was issued
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(Top Short Nov 22/07. Down 29.8%.) Valued at about 75% of its replacement cost. If you take that down to 50%, that would mark the all-time low and it could go down to $4 or $5 but he wouldn't continue holding this as a Short position as it will probably go nowhere for the next couple of years.
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