Forbes – PetroAlgae, a Melbourne, Fla., company, is a renewable energy miracle–at least in the stock market. The company, which aims to harvest oil from algae, started trading on the OTC Bulletin Board in December 2008 at under $1 through a reverse merger with a public shell.
In July, PetroAlgae’s stock was trading hands for $40, valuing the company at $4 billion. Pretty strange for a company with no revenue, $27 million in losses and an unproven technology.
