For the first time since going public November 22 last year, Dallas, Texas based oil refiner Alon USA Partners LP (NYSE:ALDW) is trading below its original $16 IPO price. (Alon USA Partners should not to be confused with its 81.6% owner Alon USA Energy (NYSE:ALJ).) ALDW hit an all-time low of $14.31 on Monday. I watched it stabilize, and with the announcement of a 4 million barrel draw in gasoline stocks by the EIA this morning, watched it firm up around $14.95 and closed at $15.56 on 412,000 units traded, which is the average daily volume over the past 50 trading days.
(click to enlarge)
I think there is some upside on this MLP, possibly back...
|FREE||SA PRO MEMBERS|
|IDEA GENERATOR||X||Exclusive access to 10 PRO ideas every day|
|INVESTING IDEAS LIBRARY||X||Exclusive access to PRO library of more than 15,000 ideas|
|SECTOR EXPERT NETWORK||X||Exclusive access to all sector experts for direct consultation|
|PERFORMANCE TRACKING||X||Track performance of all PRO stock ideas|
|PROFESSIONAL TOOLS||X||Professional Idea Filters to zero-in based on industry, market cap and more|