BioFuel Energy Skyrockets Following Greenlight Purchase Proposal

BioFuel Energy Skyrockets Following Greenlight Purchase Proposal

Starting off the week on a high note are today’s midday gainers, BioFuel Energy Corp. (NASDAQ:BIOF), American Capital Ltd. (NASDAQ:ACAS) and Micron Technology, Inc. (NASDAQ:MU). The losers are International Tower Hill Mines Ltd (NYSEMKT:THM), Allied Nevada Gold Corp. (NYSEMKT:ANV) and Zulily Inc (NASDAQ:ZU).

BioFuel Energy Soars

With a staggering jump, this Monday’s top gainer is BioFuel Energy Corp. (NASDAQ:BIOF), up +88.54%. The explanation: the proposal made by David Einhorn and Greenlight Capital to purchase the company for $275 million. The ethanol maker currently has a market capitalization of $37.05 million and is up +245.03% YTD. BIOF also forms part of the investment portfolio of Daniel Loeb.

This mining and metals fund is having a strong year so far

Cubic Corporation Chris Hohn favorite hedge fundsThe Delbrook Resources Opportunities Master Fund was up 9.2% for May, bringing its year-to-date return to 33%. Q1 2021 hedge fund letters, conferences and more Dellbrook is an equity long/ short fund that focuses exclusively on the metals and mining sector. It invests mainly in public companies focused on precious, base, energy and industrial metals Read More

At a distant second is American Capital Ltd. (NASDAQ:ACAS), the price of which increased +9.78%. A company focused on global asset management, ACAS has announced that it will be following a share buyback program. John Paulson and Ray Dalio have positions in the company.

Last up today is iBillionaire Index Micron Technology, Inc. (NASDAQ:MU). Its share price surged +7.87%. Billionaires Seth Klarman, Richard Chilton, George Soros, David Einhorn and Ray Dalio have placed their bets on this one.

International Tower Hill Mines Corrects Price

The biggest midday loser of the day is International Tower Hill Mines Ltd (NYSEMKT:THM), down -8.35%. The John Paulson mining pick is correcting its +9.11% jump from Friday and is still up +86.63% this year.

Second is another Paulson pick and mining company, Allied Nevada Gold Corp. (NYSEMKT:ANV), the price of which slipped -3.45%. The company is under investigation by investors over potential breaches of securities legislation.

Rounding out today’s list of losers is Zulily Inc (NASDAQ:ZU), down -3.42%. The online clothing retailer is part of Tiger Global’s portfolio.

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