Vertex Energy Inc. (NASDAQ: VTNR) Stock Extends Rally On Highbridge Capital Management’s Strategic Acquisition

Vertex Energy Inc. (NASDAQ:VTNR) saw its stock come into sharp focus and climb by as much as 16% for the day following a significant new development. Yesterday it emerged that Highbridge Capital Management LLC had acquired 1,114,707 shares in the company on September 24, 2024. The shares were picked up for $0.361 each.

Highbridge Capital Management’s Strategic Acquisition of Vertex Energy Shares

The shares in question worked out to 4.99% of the aggregate shares. The investment was a strategic one from Highbridge Capital and was part of its strategy to pounce on certain opportunities in diverse sectors.

Vertex Energy is an environmental services company and specializes in the recycling of industrial waste streams as well as off-specification commercial chemical products. Some of its main operations include black oil and recovery, refining, and marketing. Most of the company’s revenues are generated through the refining business.

However, the company’s financial challenges have proven to be significant despite its innovative business model. Vertex Energy’s market cap is currently $12.512 million, with a share price of $0.1338, and the figure is significantly below $7.41, its GF value. The investment from Highbridge Capital brought about a new angle to its portfolio owing to the financial situation and market position of Vertex Energy. Highbridge would have a pivotal impact on the future of the company with its 4.99% stake.

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