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Stock impact report

New Fortress Energy: Prepare For Bankruptcy - Strong Sell [Seeking Alpha]

New Fortress Energy Inc. - Class A (NFE) 
Last new fortress energy inc. - class a earnings: 3/4 12:02 am Check Earnings Report
Company Research Source: Seeking Alpha
Assuming no major increase in LNG cargo sales, the recent sale of the Jamaica business will result in Q3 results to be even worse. Adding insult to injury, the company warned of imminent debt covenant violations. While New Fortress Energy has initiated a formal review of strategic alternatives, a pre-packaged bankruptcy appears to be the most likely outcome at this time. Given the high likelihood of a total loss, investors should consider selling existing positions and moving on. With the company apparently moving closer to bankruptcy, I am downgrading my rating from "Sell" to "Strong Sell." Looking for a helping hand in the market? Members of Value Investor's Edge get exclusive ideas and guidance to navigate any climate. Learn More » Stefan Dinse/iStock via Getty Images Note: I have covered New Fortress Energy Inc., or "NFE" ( NASDAQ: NFE ) previously, so investors should view this as an update to my earlier articles on the company. After the close of Friday's regula Show less Read more
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