Venture Global, Inc. (NYSE:VG) is one of the stocks that received Jim Cramer’s latest comments. Cramer called the stock’s price action “disastrous,” as he said:
“The quality of some of this year’s largest deals is certainly questionable, at least as judged by the market. The largest deal, a $1.75 billion offering… Venture Global, a liquified natural gas infrastructure play in January, has been very disappointing. The company raised $1.75 billion at $25 per share. It’s now just over $7. That’s disastrous.”
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Venture Global, Inc. (NYSE:VG) develops and operates LNG facilities and handles natural gas liquefaction, transport, shipping, regasification, and sales. Cramer highlighted the stock during the July 28 episode and stated:
“The other LNG exporter that investors seem to be liking today was a real controversial one, Venture Global, which just came public in January this year and initially looked like a gigantic bust. But with its stock falling from an IPO price of 25, all the way down to 6.75, its lows in April before rebounding to around 15% today, this one’s getting attractive. Venture Global was controversial because they did something a little shady. They sold LNG cargoes at high spot prices a couple years ago, even though they’d previously agreed to lower price exports with the first customers they’d signed.
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Disclosure: None. This article is originally published at Insider Monkey.
