Why Tellurian Stock Surged Higher Today
Struggling energy company Tellurian (NYSEMKT: TELL) is reportedly seeking a buyer. Investors appear to believe a deal could be done at a premium to the company's recent price, sending Tellurian shares up 21% as of 10:30 a.m. ET Friday.
Tellurian is a company with tremendous promise but also a long history of falling short of its potential. The company was founded in 2016 to develop a liquefied natural gas (LNG) export facility. However, it has struggled to secure the partners and financing it needs to make its vision a reality.
Shares of Tellurium have lost about 95% of their value since 2019. In December, the company ousted co-founder Charif Souki and vowed to slash costs. It has also hired investment bank Lazard to help it explore "commercial opportunities," but according to Bloomberg, the bank will also advise on a potential sale of the company.
Source Fool.com
