ALTO Earnings - 11/6 After Close

In another group I browse, some DD was shared regarding how $ALTO is currently undervalued (potentially significantly) and should continue to recover as they post positive earnings. I took a look at the DD and was convinced enough to buy some calls for earnings, some for 2022, and shares for a longer hold.

A large part of ALTO’s business is buying corn and producing ethanol for various products. In 2022, corn prices went through the roof (see $CORN chart below), but have slowly continued to come down all of 2023. This dramatic rise in price caused their fundamentals to absolutely sink in 2022, but the last couple quarters that has turned around. It’s already ran from a low of 1.xx earlier in the year to 4.65 now.

Here is the SA article that outlines a large portion of the DD. It details some of the previous headwinds, and current tailwinds:

Curious if anyone has followed this!