Shares of New Fortress Energy (NFE 2.55%) jumped on Wednesday, finishing the day up 8% as of 3:18 p.m. ET, and they had gained as much as 42.5% earlier in the day. The jump came as the S&P 500 and Nasdaq Composite fell by 0.1% and 0.4%.
The energy company's stock is rallying for its second day after Puerto Rico's governor announced the completion of negotiations for a massive natural gas supply contract.

NASDAQ: NFE
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New Fortress secures Puerto Rico lifeline
New Fortress Energy has secured a $4 billion agreement to supply liquefied natural gas to Puerto Rico over the next seven years, with the option for a three-year extension.
While the news is positive, this agreement follows the rejection of a much larger proposal from New Fortress earlier this year. A 15-year, $20 billion deal was denied by Puerto Rico's Financial Oversight and Management Board in July. The same board must now approve the new deal.
New Fortress still has issues
New Fortress has been dealing with increasing financial pressures, struggling to turn a profit as it faces mounting debt. It had been in months of contentious negotiations with Puerto Rico and was recently forced to sell billions in revenue-producing assets elsewhere in an attempt to get a handle on its balance sheet issues. This buys New Fortress time, but it hurts long-term cash flow.
There are too many issues facing New Fortress Energy, and I think it will continue to struggle. This isn't a stock that I would recommend, even at today's price.