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New Fortress Energy Stock Plummets Amid Puerto Rico Deal Collapse
New Fortress Energy Stock Plummets Amid Puerto Rico Deal Collapse
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BTCCSquare news:
New Fortress Energy shares tumbled 9.2% Wednesday, erasing Tuesday's gains fueled by political upheaval in Puerto Rico's financial oversight. The TRUMP administration's dismissal of five board members had initially sparked optimism, but reality set in as the territory abandoned $20 billion natural gas contract talks.
The failed negotiations expose New Fortress's precarious financial position. With heavy debt burdens and dwindling revenue prospects, the company's solvency now faces serious questions. Market sentiment turned sharply as investors recognized the Puerto Rico deal—once seen as a lifeline—had collapsed over monopoly concerns.
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