Why Did New Fortress Energy Stock (NFE) Plummet 24% This Week?

Shares of New Fortress Energy (NASDAQ: NFE) fell this week, finishing down 24%. The drop came as the S&P 500 and Nasdaq-100 lost 2.4% and 2.3%, respectively.The embattled liquified natural gas (LNG) company was blocked from delivering LNG shipments into Puerto Rico by a U.S. district judge. A temporary injunction was issued after a group of marine pilots filed a lawsuit alleging the company's vessels were unsafe.The company is appealing the ruling, saying the order could have "catastrophic consequences for Puerto Rico's energy supply" and that the tugboats it had contracted to make the deliveries were safe.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool