Traders apparently found some sunshine in the most recent news about last week’s top-performing state-based stock.
Syntroleum Corp., a Tulsa firm that makes synthetic fuels, is due to be purchased. The company buying Syntroleum’s assets, Renewable Energy Group, last week said it also plans to buy Tyson Foods’ 50 percent stake in Dynamic Fuels LLC, a biofuels plant in Lousiana that was created in a joint venture between Tyson and Syntroleum.
In other words, Renewable Energy Group will end up with the entire plant barring some unforeseen circumstance.
That delivered a boost to Syntroleum shares, which gained 15.6 percent last week to close at $3.79.
That’s pretty high cotton for SYNM shares, which have topped $4 a share for only a few days this calendar year.
This week’s beagle apparently reached the end of its leash.