Shares of Tellurian Get Walloped Today
Shares of start-up liquefied natural gas exporter Tellurian (NASDAQ: TELL) are down 34.9% as of 11:30 a.m. EST today. On top of the broader market sell-off, the company's stock is dropping after a key partner asked for an extension on a memorandum of understanding (MoU).
Tellurian plans to build a liquefied natural gas (LNG) export facility on the U.S. Gulf of Mexico. Since it's a start-up company without an existing business to help fund the development, it's looking to do a creative deal with potential customers in which they buy an equity stake in the facility.
An LNG export terminal. Image source: Getty Images.
Source Fool.com
