New Fortress Energy (NFE) Resets Its Balance Sheet, Is The Valuation Discount Too Steep?

New Fortress Energy (NFE) has just pushed through a major balance sheet reset, erasing about $5.7b of debt and carving out its Brazilian assets into separate entities held largely by creditors. That reset lands at a time when New Fortress Energy’s share price has been under intense pressure, with the stock down 21.2% over the past 30 days and 76.99% year to date, and the 1-year total shareholder return declining 87.23% as investors reassess both risk and future potential despite the recent...