Why New Fortress Energy Stock Just Fell 20.3%
2026-03-18 18:21:44 ET
New Fortress Energy (NASDAQ: NFE) fell 20.3% on Wednesday. The S&P 500 and the Nasdaq Composite lost 1.4% and 1.5%, respectively.
The struggling liquefied natural gas (LNG) company struck an agreement with creditors yesterday that will allow the company to survive, but one that comes with serious strings attached. The news sent the stock flying up more than 30% before giving away most of the gain. Today, the stock was in freefall.
Under the agreement, New Fortress will split into two separate companies. "NewNFE" will continue trading publicly and retain operations in Jamaica, Puerto Rico, and Mexico. Meanwhile, a new private entity dubbed "BrazilCo" will take ownership of the company's entire Brazilian business -- and go straight into the hands of its creditors.
NASDAQ: NFE
NFE Trading
-1.21% G/L:
$0.57 Last:
6,976,435 Volume:
$0.57 Open:
