marginal haircut

+

[marginal haircut @ggas100]

@justalexoki I think you're autistic because you can't see the contempt in her verbal/physical communication

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@fullonliplock you need to learn about fasting and autophagy

[marginal haircut @ggas100]

@troylapeyrouse wait till next earnings call when they mess up the tie in and the catalyst repair

[marginal haircut @ggas100]

$clmt was a screaming buy at 58

and at 40

and at 34

wait till it's a screaming buy at 20

[marginal haircut @ggas100]

@MaxPapazov exactly. Are they expecting customers to pay higher rates in the future in return? Of course not. Clowns.

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$clmt "Quite frankly, during recent periods, our commercial team could have recognized higher margins in the spot markets, but we are focused on the long term and will continue to support our loyal customers, many of whom have been with us for decades."

[marginal haircut @ggas100]

$clmt fundamental analyst vs official document enjoyer

[marginal haircut @ggas100]

@BoopysnekY and short it down to fair value @ 20

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$clmt bulls:
- paper index screaming $3.52/gal
- NYMEX waterborne v actual - Great Falls netback -$0.50
- tallow feedstock v SBO -$0.42
- truck to MRL -$0.30
- site opex + SG&A -$0.50
- catalyst gunked up from the storm so only 30 MMgpy SAF.

bears:
- mgmt said it was 60.

[marginal haircut @ggas100]

Recent lesson I learned: No matter how good the fundamentals are on a business, if mgmt is allegric to making money, you won't make money.

$clmt

[marginal haircut @ggas100]

"we left money on the table in a commodity business to be loyal 🫶 hehe"

"we burnt out a catalyst and didnt check for 6 months... oopsie..."

"we didnt raise prices on PB lolz"

> Management are shocked at the price reaction to their q3 performance

$clmt

[marginal haircut @ggas100]

@Fingerinya Im just shocked by how incompetent mgmt has proven themselves. unbelievable that they got rinsed on every business segment. even SPS, "muh relationships" fuck outta here with that shit you sell commodities

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@dickbut @ESGhound mgmt are incompetent. no thanks

[Mean Law Dog @ESGhound]

kiss of death for $SOC

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@dickbut @ESGhound lower we go!

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@PraiseKek @fifa_professor https://t.co/pFsMkLGj3O

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"If Calumet knowingly told investors that MRL was producing SAF at a 60-million-gallon annualised rate when the actual rate was only 30 million, that could be a very serious securities-fraud issue."

ok

$clmt

[marginal haircut @ggas100]

@Fingerinya tyvm

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@fifa_professor from $clmt mgmt team

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$clmt
- GOATed macro environment
- mgmt said it was 60mgal run rate twice
- Some guy on twitter:

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@donshawwa Sep 1: "Following constraint removal completed at the Spring 2026 turnaround, Montana Renewables is currently producing at a run-rate of 60 million gallons of SAF per year"

Aug 7; “we’re running at about a 60 million gallon run rate now”

"does" rather than "can" unfortunately

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@Aion19834333 let's see