After President Bush’s State of the Union Address speech, the shares of ethanol related stocks are moving higher. Bush is expected to promote fuel efficient vehicles, ethanol and new technologies for alternative energy to reduce the dependence on foreign oil.
The news caused stocks of Ethanol companies to go up. Xethanol Corp. XNL
went up 28% in last 3 days where as Pacific Ethanol Inc. PEIX
grew by 6.58%. Archer Daniels Midland Co. ADM
went up by 2.86%. Also Andersons ANDE
and Green Plain Revewable Energy GPRE
made modest gains of 1.64% and 1.02% respectively.
Along with Ethanol companies, Solar and other alternative energy stocks will also benefit. Few of them to keep an eye on are
- Solar companies are Sunpower Corp. SPWR, Energy Conversion Devices ENER, Evergreen Solar ESLR, First Solar FSLR and MEMC Electronics WFR.
- Wind energy companies are American Superconductor AMSC and Zoltek ZOLT
- Fuel Cells companies are Ballard Power BLD and FuelCell Energy FCEL
- Liquid Coal companies are Syntroleum SYNM and Rentech RTK
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