Why Gevo's Stock Is Trading Higher Today

Gevo GEVO shares traded higher again on Monday. Last week, the company announced it closed a $350 million registered direct offering of common stock.

Gevo is a renewable chemicals and biofuels company engaged in the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks. Its operating segments are the Gevo segment and the Gevo Development - Agri-Energy segment.

Shares of several solar companies have traded higher following the inauguration of President Joe Biden. Biden has signed executive orders pertaining to the environment and a Democratic presidency and Senate are expected to benefit the clean energy sector.

Gevo shares traded up 25.98% to $13.24. The stock has a 52-week high of $14.50 and a 52-week low of 46 cents.