Wednesday, June 3, 2009
AlphaNinja - The refiners were TORCHED today, on the Valero guide-down, as well as some other debt/equity offerings. These stocks are 60-80% off their highs in many cases, and some will offer tremendous upside. Think about the squeeze at the retail end - the 10-15cent per gallon that the station makes is DECIMATED by the increase in credit card fees, which are a % of transaction, as gas stays high....
These prices are within a few minutes of the close, so the final numbers will be a little higher in most cases. Screen looked at companies with market values over $300m.
Posted by Brendan Wagner at 1:58 PM