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Why NFE Stock Just Popped 33.9% -- Then Slumped

TheMotleyFool

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Why NFE Stock Just Popped 33.9% -- Then SlumpedPhoto, wide shot, wide-angle lens, Gas company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/01083d82-021d-4573-8c40-0e836a0771d6.png

New Fortress Energy (NASDAQ: NFE) jumped as much as 33.9% on Monday before giving most of the gain away. Shares finished the day up just 5.5%.

The embattled liquefied natural gas (LNG) company announced it has reached a deal with creditors that will see its mountain of debt slashed, keeping the company alive. But it comes at a steep cost. Today's wild swings came as investors reacted to the initial news, only to realize the deal's implications.

Source Fool.com

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