Ethanol stocks plummeted Thursday due to Wednesday's news of corn shooting up 14 cents and Bush finally showing concern over corn-ethanol.
VeraSun (-9.03%) and Aventine (-12.02%) hit new 52-week lows while Pacific Ethanol (-10.90%) neared its own of $4.20 a share.
Assisting the downfall was a report published by the Wall Street Transcript which set a bleak outlook for ethanol this year. In the report, Pavel Molchanov of Raymond James & Associates stated "a typical ethanol producer will be at best breaking even this year and possibly losing money on the bottom line" due to what has been a persistent margin squeeze.
March corn managed to stay unchanged Thursday.