Shares of Tellurian (NYSEMKT: TELL) fell as much as 17.7% on Tuesday, although shares had recovered to just a 7.3% decline as of 3:38 p.m. ET.
Investors can probably chalk up today's decline to a reversal of last week's tremendous gains, following the announcement of a U.S.-European agreement in principle to supply Europe with more liquified natural gas (LNG) through 2030. That agreement was made in response to Russia's invasion of Ukraine, and Europe's desire to wean itself off Russian oil.
However, on Tuesday, it was reported that Russia is now more open to peace talks. Therefore, stocks that benefited from tensions are reversing course. This is despite a positive announcement from the company today.
Source Fool.com