Why Tellurian Stock Tanked 33.7% in January
Shares of Tellurian (NYSEMKT: TELL) tumbled 33.7% in January, according to data provided by S&P Global Market Intelligence. That continued the liquefied natural gas (LNG) company's steep slide. It has now lost 85% of its value over the past three years after tumbling 55% in 2023.
The main factor weighing on the LNG stock is its precarious financial position. It has hired an advisor to help it find ways to fund its massive Driftwood LNG project, which is going slower than investors would have hoped.
The sell-off in Tellurian has accelerated in recent months due to concerns about its ability to continue operating. Its auditors raised concerns about the company's finances late last year. It has since ousted its co-founder and former chairman and hired a financial advisor to "assist with shaping commercial structures as well as balance sheet management." It also swapped $37.9 million in debt for equity to help give it some more breathing room.
Source Fool.com
Tellurian Inc Stock
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