Shares of Green Plains (GPRE) plunged 7.06% during intraday trading on Thursday, following a significant downgrade from Bank of America. The sharp decline came as investors reassessed the company's prospects in light of the new bearish analyst rating.

Bank of America analyst Salvator Tiano downgraded Green Plains from Neutral to Underperform, while also adjusting the price target to $7 from the previous $4.50. This new target implies considerable downside potential from the stock's previous closing price, contributing to the negative sentiment surrounding the company. The downgrade signals that BofA expects Green Plains to underperform the broader market in the coming period.

The market's reaction to the downgrade was swift and decisive, with Green Plains shares already tumbling 6.62% in pre-market trading before extending losses during the regular session. Investors will likely be closely watching for any additional details or explanations from the analyst regarding the factors behind this pessimistic outlook, as well as monitoring the company's performance in the near to medium term.