Dig in: A stock you’ve probably never heard of is shooting for the stars.
Prior to the market opening on Monday morning, shares of Sky Quarry Inc (Nasdaq: SKYQ) were trading at around $12.60, and had peaked last Friday at $14.69.
That was nearly triple from where share prices were a week ago. As of the end of trading last Monday, shares were only around $5. So over the past five days, Sky Quarry shares are up around 170%.
For 2026, the stock was also up about 266% as of Friday’s close, which doesn’t account for the premarket trading bump it saw on Monday.
What is Sky Quarry and what’s driving the momentum?
Sky Quarry is a Utah-based energy company, specializing in creating solutions to “the environmental issues caused by the landfill disposal of waste asphalt roofing shingles.”
In aggregate, the company claims, recycling those shingles and other materials could potentially recover “20-22 million barrels of oil and approximately 9-11 million tons of sand.”
Sky Quarry also runs an oil refinery in Nevada, which is what appears to have put the company on the radar of investors recently.
The ongoing war in Iran has stoked worries about material and commodities shortages, especially oil, putting shares of domestic producers, like Sky Quarry, in higher demand.
That dynamic is playing out this morning, with the stock apparently reacting to President Trump’s threat to blockade of the Strait of Hormuz after a peace deal with Iran could not be reached over the weekend.
Reporting from NBC News suggests that the blockade will begin this morning.
Sky Quarry eyes increased production
Additionally, Sky Quarry has reportedly been in discussion to increase domestic crude oil production.
“At $110 oil, the economics for local drilling and local refining both improve materially,” said Marcus Laun, Sky Quarry’s CEO, in a recent statement. “Several producers we work with are actively evaluating opportunities to increase production. If that activity accelerates, it can create a natural and advantageous supply relationship between local crude and local refining capacity – exactly the kind of integrated position we have been building toward.”
As of Monday morning, oil prices were under $100, but remain extremely volatile due to the evolving situation in Iran and with the Strait of Hormuz’s on-again, off-again shutdown.
Other energy stocks have been affected as well. Shares of Exxon Mobil (NYSE: XOM), Chevron (NYSE: CVX), and ConocoPhillips (NYSE: COP) are all up between 1.5% and 2% in premarket trading Monday.
While Sky Quarry seems to be benefiting far more than most for the moment, no one can predict whether the rally will last.
