Why New Fortress Energy Stock Is Soaring Today

Shares of New Fortress Energy (NASDAQ: NFE) are soaring on Wednesday, up 11.1% as of 2:10 p.m. ET. The jump comes as the S&P 500 and Nasdaq Composite fell 1% and 1.5%, respectively. Just weeks after finally securing final approval for its liquefied natural gas (LNG) supply contract from Puerto Rican regulators, the company announced today that it had reached another agreement with creditors to extend a forbearance period set to expire this week.The embattled LNG provider has bought itself much-needed time, reaching a deal to extend its grace period through January 9th. This buys the company time to stabilize its cash flows, now that it has closed a deal that will net the company more than $3 billion over the next seven years.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool