Jun. 16 at 5:33 PM
DK Delek up nearly 100% in the last 35 trading days.
A major catalyst looms:
$300M–
$500M in potential RIN relief could land at any time, they have 11 Small Refinery Exemption SRE petitions pending (2019–2024),Reuters thinks mass approvals are coming soon.
$12.24B in revenue vs.
$1.3B market cap -massive disconnect.
115% of the stock is locked up by institutions, 15% short.
Delek owns a large stake in Delek Logistics Partners
$DKL -Stable, cash-generating asset, Distributions from DKL support DK’s cash flow.
If waivers are approved, FCF could rip. One of the most asymmetric setups in U.S. oil refining.
$PTEN