New Fortress Energy (NASDAQ: NFE) stock is getting crushed in Monday’s trading. The liquified natural gas (LNG) company’s share price was down 37.6% as of 12:15 p.m. ET and had been off as much as 48.6% earlier in the day.
After the market closed last Friday, New Fortress published second-quarter results that were significantly worse than anticipated. Making matters worse, the company announced that it was conducting strategic reviews in response to funding issues — and the news has increased bankruptcy concerns among investors.
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