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RUMOR ROUNDUP- Why Renewable Energy Group is up 6 Percent Friday (REGI)

Shares of Renewable Energy Group (NASDAQ: REGI) are up more than 6 percent Friday.

The $530 million company has traded 985,000 shares Friday versus an average of 590,000. It’s up more than 141 percent year to date.

There is no clear news regarding why the stock is up but a look at the charts, and reading trader comments on social media reveal a technical breakout is likely the cause.

On Twitter:



On Stocktwits

“@cctranscripts: Major owner of Renewable Energy Group just sold 2,700 shares $REGI”

“@edwardrooster: “@stt2318: $REGI textbook breakout…  updated chart” good also for $STUDY”

Company Profile

From Yahoo! Finance: Renewable Energy Group, Inc. produces biodiesel in the United States. The company operates through two segments, Biodiesel and Services. It is involved in acquiring feedstock, managing construction, and operating biodiesel production facilities; and marketing, selling, and distributing biodiesel and its co-products. The company produces biodiesel from various feed stocks, including inedible corn oil, used cooking oil, and inedible animal fat; and from virgin vegetable oils, such as soybean oil or canola oil.

It is also involved in the purchase and resale of biodiesel and raw material feedstocks acquired from third parties; and sale of glycerin, free fatty acids, and other co-products of the biodiesel production process. In addition, the company offers biodiesel facility management and operational services to biodiesel production facilities and other clean-tech companies, as well as acts as a construction management and general contractor for the construction of biodiesel production facilities. Renewable Energy Group, Inc. was founded in 1996 and is headquartered in Ames, Iowa.

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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