The Vertex Energy (NASDAQ:VTNR) stock is soaring again this morning and has already soared by 45% in premarket trading this morning. The rally in the Vertex Energy stock was triggered yesterday after the company announced the acquisition of an oil refinery owned by a subsidiary of Royal Dutch Shell.
The news had led to a massive rally in the stock yesterday as well and the Vertex stock ended up with gains of 124%. The refinery, which is located in Mobile, has been acquired from Equilon Enterprises, a subsidiary of Royal Dutch Shell.
The company is going to pay $75 million in order to complete this acquisition and it has also been announced that the deal is going to be closed at some point in the fourth quarter of this year. The refinery is going to be the biggest refinery in possession of Vertex and the company expects that it could generate as much as $3 billion in sales every year.
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