Consider this, they made the worst acquisition of a refinery company just days before crack spreads collapsed.Then to top this, they shut the refinery down just days before Crack spreads improved.Even if you can come to a fair value above the current stock price. Do you really want to invest with these guys?? Think about it.
Nobody's perfect. If we all the made the right decisions every time, we would be millionaire stock traders. Management can't be perfect either. We learn from our mistakes though. Looks like they are on the right path this time shorty!
True. Nobody is perfect. But you would hope to not completley suck and destroy half the shareholder value.
You must be REALLY SHORT.............lol
It might be true. They paid $1 billion for a refinery they never made a dime on and then had to shut down entirely. And if you check the press release about the successful shutting down of Yorktown, and plot a chart of crack spreads around that date. It is exactly when they started to improve again.Uncanny.