Heavy Selling Drags Share Prices of These 10 Firms

6. Venture Global Inc. (NYSE:VG)

Venture Global dropped its share prices for a third day, losing 7.70 percent to end at $15.23 each as investor sentiment was further dampened by a shareholder law firm’s investigation into the company for possible violations of federal securities laws.

On Wednesday, law company Levi & Korsinsky announced the commencement of its probe into VG following TotalEnergies CEO Patrick Pouyanne’s statement that he was approached by VG to see if the company would be interested in a long-term supply contract for liquefied natural gas from the Calcasieu Pass terminal in Louisiana.

However, Pouyanne announced he rejected the offer “because of what they are doing,” underscoring his lack of trust.

VG is facing legal challenges from huge clients namely BP and Shell for the delays in supply contracts as it commissions its projects.

Meanwhile, VG said it was surprised by Pouyanne’s comments, but said that they continue to honor its contracts and execute the construction of its facilities safely and at a record pace.