Cramer Changes His Call on Ethanol Stocks?
At the end of July, Cramer talked up a potential resurgence in ethanol production here in the States, but warned investors away from pure plays on the trend. The reason? These companies are hostage to commodity prices, he said, which can overwhelmed even a significant increase in overall ethanol production. And with demand from developing countries on the rise, it’s entirely possible that the price of corn could shoot higher.
However, when a CEO from the industry can convince Cramer that he’s wrong, the Mad Money host is willing to listen. That’s why on Thursday he brought Green Plains Renewable Energy CEO Todd Becker onto the show. As the fourth-largest ethanol producer in the US, Becker’s firm expects to produce as much as 500 million gallons of ethanol this year. Can this industry heavyweight change Cramer’s mind? Watch the video for the full interview.
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