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So HF Sinclair's stock just tanked like 11% yesterday and honestly the reason is kinda wild. Their CEO Tim Go just randomly took a leave of absence and the board put their chairperson Franklin Myers in as interim CEO instead. Like, okay, fine, leadership changes happen but the timing is terrible because the company literally just crushed their earnings.
They reported Q4 results that were actually really solid - revenue came in at $6.46 billion, barely down 1% year-over-year, and they flipped to profitability with $1.20 earnings per share when analysts were only expecting like $0.63. That's a huge beat. So why is everyone selling? The stock market hates uncertainty I guess.
The board mentioned they're reviewing some disclosure stuff but didn't give details, which is making everyone nervous. Like we don't know what's going on with Go or what these 'matters' actually are, so investors are just bailing. It's frustrating because the company did everything right with earnings but now nobody wants to touch the stock until there's more clarity. Probably smart to wait this one out tbh.