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Invesco Buys 15 Million Shares Of VeraSun (VSE), Lifting Share Price
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.
More on this topic
(What's this?)
Buyout value of VeraSun Energy
(Investing Thoughts, 9/23/08)
VeraSun goes stupid
(Investing Thoughts, 9/17/08)
Defining Investment Jargon: Stalking-Horse Bid
(Investment U, 3/17/09)
The Ethanol Bubble Just Popped
(Venture Chronicles, 11/4/08)
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