Sky Quarry Inc.
(NASDAQ:SKYQ) stock fell in Tuesday's premarket session after soaring nearly 63% on Monday, as traders took profits following the micro-cap stock's sharp rally.
The pullback comes as early investors locked in gains after Monday's surge, a common pattern for thinly traded micro-cap stocks that often experience elevated volatility after outsized moves.
Nears Refinery Production The company said Monday it is preparing to begin production at its Foreland Refinery in Nevada, with operations expected to start in July.
Sky Quarry recently disclosed that it has approximately 10,000 barrels of inventory on-site and more than 100,000 barrels of storage capacity.
