Vertex Energy (NASDAQ:VTNR) stock is surging higher on Tuesday despite a lack of news concerning the company.
With the increasing price in shares of VTNR stock comes heavy trading of the shares. As of this writing, more than 49 million shares of the stock have changed hands. To put that in perspective, the stock’s daily average trading volume is about 1 million shares.
So what exactly has VTNR stock spiking higher today? It’s unclear exactly why, but it’s possible that day traders have taken an interest in the company. It’s also worth noting that Vertex Energy is an alternative energy company. These have been growing in popularity with investors now that President Joe Biden is in office.
With all the movement surrounding VTNR stock today, investors will likely want to know more about the company. Luckily, we have a quick overview ready below to help with that.
- Vertex Energy is an energy company that focuses on refining alternative feedstocks.
- It’s also a marketer of high-purity petroleum products.
- The company is one of the largest processors of used motors oil in the U.S. with a processing capacity of more than 115 million gallons per year.
- Vertex Energy is based out of Houston, Texas, and went public in 2009 following its merger with World Waste Technologies.
- The company then made the jump from the OTC Bulletin Board to the Nasdaq Exchange in 2013.
- Its current market capitalization is $126.642 million.
VTNR stock was up 64.4% as of Tuesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.