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Investors in ethanol producer Pacific Ethanol (NASDAQ: PEIX) are having a terrific year. Since 2020 started -- and the COVID-19 crisis with it -- the company has evolved beautifully from a producer of unprofitable gasoline additives into a producer of very profitable hand sanitizer and disinfectant active ingredients.
It's still producing alcohol, mind you. It's just that now it's making money doing that -- and Pacific Ethanol's stock price is up more than 10 times in value as a result.