Venture Global (VG) Falls to Nearly 52-Week Low. Here’s What Dragged the Sentiment

We recently published 10 Stocks Already Hurting in December. Venture Global Inc. (NYSE:VG) is one of the top performers on Monday.

Venture Global fell hard on Monday to nearly hit its 52-week low, as investors resorted to profit-taking following two straight days of gains.

The stock capped the day off shedding 7.91 percent at $6.87 apiece—just 13 cents shy of its lowest 52-week price of $6.72, also mimicking the drop on Wall Street’s main indices following a recent holiday boost.

Likewise, investors appeared to have already priced in Venture Global Inc.’s (NYSE:VG) announcement last week that it secured a new sales purchase agreement (SPA) with Tokyo Gas Co. Ltd. for the supply of 1 million tons per annum of liquefied natural gas for 20 years. The agreement is slated to begin in 2030.

Venture Global (VG) Falls to Nearly 52-Week Low. Here's What Dragged the Sentiment

Venture Global Inc.’s (NYSE:VG) recent deal brought its total SPA in just the last six months to 7.75 million tons per annum, following its earlier inked deals with Mitsui & Co., Ltd., See LNG Trade SA, Naturgy, Petronas, and Securing Energy for Europe (SEFE) GmbH.

“With nearly 8 MTPA (million tons per annum) of new long-term commitments signed this year, Venture Global is pleased to build on our commercial momentum through this new partnership with Tokyo Gas,” said Venture Global Inc. (NYSE:VG) CEO Mike Sabel.

“Tokyo Gas is a pioneer in the LNG industry and leading provider of natural gas to Japan, and we look forward to working with them as we grow our position as a top LNG supplier to Japan. This agreement will contribute significantly to the US-Japan balance of trade over the duration of the SPA, providing Japan with affordable, reliable American LNG,” he noted.

While we acknowledge the risk and potential of VG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than VG and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.