Invesco Buys 15 Million Shares Of VeraSun (VSE), Lifting Share Price

Posted by Tate Dwinnell | # |
08:42:44 am on October 13, 2008

The stock price of troubled VeraSun Energy got a boost on Friday, when Invesco, an investment firm based in Bermuda, announced that it had purchased 15.88 million shares of VeraSun stock.

VeraSun stock prices ended the day on Friday at $1.90/share, an increase of 10%.

One of the largest producers of ethanol in the US, VeraSun’s earnings have suffered due to high corn prices. The value of the stock plummeted in September, when the revised their 3rd quarter forecast from a loss of 63 million to a loss of 103 million.

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