Sky Quarry Inc. (Sky Quarry (SKQ)) stock took a step back in Tuesday's premarket session, falling about 14% to $1.63. The pullback comes after the stock soared nearly 63% on Monday, as traders locked in gains — a common pattern for thinly traded micro-cap stocks that tend to swing wildly after big moves.
The profit-taking doesn't change the bigger story: Sky Quarry is on the verge of a major milestone. The company said Monday it's preparing to start production at its Foreland Refinery in Nevada, with operations expected to kick off in July. That's a big deal for a company that's been in development mode.
Sky Quarry recently disclosed it has roughly 10,000 barrels of inventory already on-site and more than 100,000 barrels of storage capacity. That extra capacity should give the company some breathing room as it ramps up production. Management has emphasized the strategic value of the refinery, noting that refining capacity is increasingly scarce, especially in the Western U.S.






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