Why Gevo Stock Is Up Nearly 14% Today
Shares of biofuels producer Gevo (NASDAQ: GEVO) were up almost 14% as of 12:05 p.m. ET Monday, starting the new year off with a bang thanks to similarly strong bullish interest in companies closely associated with Gevo's flagship product.
After Gevo ended 2021 on a mostly bearish foot, and at a new 52-week low, investors are changing their minds about the stock. The rally apparently stems from the fact that the company makes and markets liquid hydrocarbons using an approach that's completely carbon neutral. Its fuels can be used in a variety of ways, though its potential as a jet fuel is easily the most promising game changer.
To this end, Gevo shareholders can thank the renewed bullishness behind airline stocks for Monday's big gains. Shares of Delta Air Lines, United Airlines, and American Airlines are up 3.5%, 4.6%, and 4.8%, respectively, today despite a spate of COVID-prompted flight cancellations during the busy holiday season. Investors are looking past these temporary disruptions and still seeing a bigger-picture rebound for the air travel industry. That post-pandemic rebound, however, is converging with an even bigger shift toward cleaner energy solutions.
Source Fool.com