In This Article:
We recently compiled a list of the 10 Firms Shine Amid Wall Street's Lackluster Trading. In this article, we are going to take a look at where NextDecade Corporation (NASDAQ:NEXT) stands against the other stocks.
A lackluster trading persisted throughout Thursday, with Wall Street’s main indices ending the day with only marginal changes.
The Dow Jones Industrial Average dipped by 0.16 percent, while the S&P 500 shed 0.21 percent, and the Nasdaq Composite declined by 0.89 percent.
Meanwhile, 10 companies bucked an overall dull trading, having posted impressive gains. Let’s take a closer look at the top performers and explore the factors driving their exceptional results.
To come up with Thursday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A closeup of the Rio Grande LNG terminal facility, showing its massive scale.
NextDecade Corporation (NASDAQ:NEXT)
LNG development company NextDecade Corporation (NASDAQ:NEXT) saw its share prices rally on a third day, ending Thursday up by 11.6 percent at $9.04 apiece after the company raised $175 million in fresh funds for its mega LNG project in Texas.
NextDecade Corporation (NASDAQ:NEXT), through its subsidiary Rio Grande LNG Super Holdings, recently entered into a credit agreement with General Atlantic Credit’s Atlantic Park Fund to raise finances for two trains at the LNG export terminal under construction at the Port of Brownsville, Texas.
Part of the proceeds will also be used to repay outstanding borrowings under the $50 million revolving credit facility and $12.5 million interest-term loan made a year ago with MUFG Bank.
The remaining funds will also be used for working capital and general corporate purposes, including development expenses for the expansion of trains 4 and 5 at the Rio Grande LNG facility.
Overall NEXT ranks 4th on our list of the stocks that skyrocketed today. While we acknowledge the potential of NEXT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NEXT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stock To Buy Now and 30 Most Important AI Stocks According to BlackRock
Disclosure: None. This article was originally published at Insider Monkey.