We recently published 10 Losing Stocks in an Otherwise Optimistic Market. HF Sinclair Corp. (NYSE:DINO) was one of the worst performers on Wednesday.
HF Sinclair fell by 10.86 percent on Wednesday to end at $51.57 apiece as investor sentiment was dampened by the sudden leave of absence (LOA) of its chief executive, Timothy Go.
In a statement, HF Sinclair Corp. (NYSE:DINO) said that the board of directors received a request from Go to take a voluntary LOA from his duties, without divulging the reason for the leave.
The board has accepted Go’s request, and in a special meeting, elected HF Sinclair Corp. (NYSE:DINO) board chairman Franklin Myers as interim president and CEO of the company.
Copyright: 1971yes / 123RF Stock Photo
“The Board has directed the Nominating, Governance and Social Responsibility Committee of the Board to commence a process to determine what future actions, whether interim or otherwise, should be taken in relation to the position of Chief Executive Officer and President,” the firm said.
Additionally, HF Sinclair Corp. (NYSE:DINO) is assessing certain matters related to the company’s disclosure processes, and assured that all other parties are working to complete the review.
In other news, the company saw its net income attributable to shareholders last year jump by 227 percent to $579 million from $177 million in 2024, despite sales and other revenues declining by 6 percent to $26.87 billion from $28.58 billion year-on-year.
While we acknowledge the potential of DINO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
