Professional
Added to YB: 2026-08-20
Pitch date: 2026-08-17
FTK [bearish]
Flotek Industries, Inc.
+15.39%
current return
Author Info
Company Info
Flotek Industries, Inc. operates as a chemical and data analytics company in the United States, the United Arab Emirates, and internationally.
Market Cap
$977.4M
Pitch Price
$29.75
Price Target
N/A
Dividend
N/A
EV/EBITDA
23.66
P/E
27.40
EV/Sales
3.52
Sector
Chemicals
Category
special_situation
Flotek’s (NYSE: FTK) $400m Puerto Rican Deal Has Been Canceled. FTK Has Yet to Disclose This Scandal Involving a Convicted Felon and an Apparently Unauthorized Signature That Has Wiped Out ~57% of Its Backlog
FTK (short): Wolfpack short thesis — FTK's $400M PREPA (Puerto Rico power) deal, ~57% of backlog, is dead. Federal regulator revoked authorization Aug 14 over apparent unauthorized Enchanted Rock signature, referred for criminal prosecution. Partner Power Expectations' CEO is convicted felon; signatory tied to $770M fraud. FTK hasn't disclosed; stock spiked ~35% on Aug 3 announcement, now $30.74, $1.1B cap.
Read full article (4 min)