TELL - Why Tellurian Stock Soared Higher in February
2024-03-01 17:09:00 ET
Long-troubled liquefied natural gas (LNG) company Tellurian (NYSEMKT: TELL) was the subject of deal chatter in February, helping the stock to jump 58.5% for the month, according to data provided by S&P Global Market Intelligence .
The company does appear to be looking for a buyer for some or all of its assets, but investors need to keep expectations low given the challenges Tellurian faces up ahead.
Tellurian for years has been attempting to develop its Driftwood LNG export facility without much luck. Last fall, the company asked the Federal Energy Regulatory Commission (FERC) to delay the timetable for the plant's opening until 2029, and then the company issued a "going concern" warning in its third-quarter report warning its auditor had questions about its ability to cover its financial obligations.
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Why Tellurian Stock Soared Higher in February