10 Firms Stand Strong Amid Market Decline

3. New Fortress Energy Inc. (NFE)

Shares of New Fortress Energy (NFE) saw a 4.08-percent rally on Monday, closing the day at $15.04 apiece.

Over the past 30 trading days, the company marked an impressive 45.74-percent growth and a 19.27-percent increase during the past five days.

Analysts said that investors took heart on news that a consortium involving the company has been chosen to build a new gas-fired power plant in Puerto Rico. Once completed, the new power plant is expected to power up to 478 megawatts of electricity.

The development was believed to be a substantial step for New Fortress Energy, expanding its footprint in the energy infrastructure of Puerto Rico and potentially bolstering its future revenue streams.

While the company has yet to issue a formal statement regarding the consortium’s selection, the market’s response underscored investor confidence in its growth prospects.