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Why Vertex Energy Stock Tumbled 13% at the Open Today

·2 min read
Why Vertex Energy Stock Tumbled 13% at the Open Today
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Shares of Vertex Energy (NASDAQ: VTNR), a specialty refiner of alternative feedstocks, fell sharply in early trading on Tuesday, losing roughly 13% of their value. The big news here was released this morning and related to a planned asset sale to a division of Clean Harbors (NYSE: CLH). Vertex Energy agreed to sell motor-oil recycling assets to Safety-Kleen, which is owned by Clean Harbors, for $140 million in late June of last year.