Growth ChallengeGrowth plans include a remodel pilot where ARKO has a limited track record, and it may take years before it seriously impacts ARKO.
Strategic UncertaintyLack of visibility from ARKO's continually evolving strategy justifies continued caution.
Valuation RiskThere is a risk that ARKO's valuation remains subdued relative to peers if volumes, particularly retail fuel volumes and same-store merchandise sales, remain weaker than peers and industry data.