Calumet, Gevo Shares Are Soaring Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
Calumet Inc (NASDAQ:CLMT) and Gevo Inc (NASDAQ:GEVO) shares surged after receiving conditional loan commitments from the U.S. Department of Energy for renewable fuel projects. Calumet's loan is for $1.44 billion for a renewable fuels facility, while Gevo's is for $1.46 billion for its Net-Zero 1 project.
October 16, 2024 | 10:07 pm
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POSITIVE IMPACT
Calumet received a conditional loan guarantee of up to $1.44 billion from the DOE for its renewable fuels facility, boosting its stock by 19.74%.
The DOE's loan guarantee significantly supports Calumet's renewable fuels project, enhancing its financial stability and growth prospects, leading to a positive market reaction.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Gevo received a conditional loan guarantee of $1.46 billion from the DOE for its Net-Zero 1 project, causing its stock to rise by 46.22%.
The DOE's loan guarantee is a major financial boost for Gevo's Net-Zero 1 project, likely attracting further investments and driving significant stock price appreciation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 90