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Stock of the Week - Verenium (VRNM)
VRNM posted Monday night (7.21.08) at $1.66
Verenium develops biofuels from plant material.
VRNM is in the hot biofuel space. This space keeps getting a large amount of attention as oil stays high.
What makes VRNM special is that they are researching and utilizing enzymes to create fuel from all kinds of biomass. Their technology and processes can be marketed to ethanol production companies.
The commercialization of their Enzyme business can be absolutely huge. VRNM has the ability to make plant mass recycling main stream. Of course, everyday plant mass is extremely abundant and cheap, unlike corn for instance.
The best thing about VRNM is that it has a huge amount of momentum and investors are realizing this company's awesome potential. VRNM had revenue of $15.23 million last quarter, up from $12.97 million the quarter before and $10.86 million the quarter before that. That's impressive considering they are operating in an emerging industry.
VRNM closed at its high of the day in its last session. It has an amazing chart and huge potential this week and beyond.
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