I can't understand why ADM and ANDE are trading in the 30s and GPRE is trading at $7.50 when it is in the Russell 2000 now.

GPRE has only 25 million shares out, and is now the fourth largest ethanol producer in the Country.

They should do over 2 billion in sales in FY 2010 and have various businesses now. They bought a coop and another elevator so they have about 18 million bushels of corn storage. They have an extremely large ethanol marketing division, which Steve Blyel operates, who used to run RPMG, so he is a very good marketer of ethanol. And with margins as they are, GPRE should earn between 10 and 20 million for the quarter, and the quarter we are in should be even better, because of the run up in the price of corn.

So if they earned around a dollar per share the last quarter, which they will report on next Tuesday, and the same or better in this quarter, they would have over $2.00 per share in earnings, and could trade above $40 with only a PE of 10. While ANDE is trading with a PE of over 1500 and ADM is trading at a PE of over 12, which is now increased after their earnings were half of what they were last year.

It just seems like there is a lot more value in GPRE, but the stock certainly doesn't show it. Maybe some day it will now that it is in the Russell and has to be weighted in the averages of all the index funds that include the Russell. The stock just baffles me. Thoughts?