Shares of New Fortress Sink After Earnings
Shares of natural gas power company New Fortress Energy (NASDAQ: NFE) are down 13.9% as of 3:45 p.m. EDT today and we're down as much as 19.7% in early morning trading. The stock, which had been on an absolute tear since April, is down after the company reported earnings that didn't impress anyone on Wall Street.
Prior to today, shares of New Fortress Energy were on a spectacular run, up more than 450% since mid-March. The niche natural gas logistics company was riding the wave of some operational successes and favorable attitudes toward companies with an alternative energy angle.
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Source Fool.com
