Why New Fortress Energy Rallied Today
New Fortress Energy(NFE) The Motley Fool·2024-10-02 04:06
The company made a deal with creditors and sold more stock, giving it more breathing room. Shares of liquefied natural gas (LNG) company New Fortress Energy (NFE 6.49%) surged 8.7% on Tuesday as of 3:41 p.m. ET. On a down day for the markets, New Fortress delivered what was perceived as short-term good news. However, it wasn't great news, as the company was able to both push out some debt maturities and raise cash in the equity markets....but at a cost. A deal with creditors and equity holders Yesterday, Ne ...