Datacentrex Shares Slide on $30M Investment in LNG Producer
Dow Jones
6 hours ago
Shares of Datacentrex retreated after it disclosed an investment of $30 million in the holding company of Eagle LNG Partners, a producer of liquified natural gas.
Shares were down 10% to $2.34 as of midday Monday. The stock is down 15% this year.
The investment is a bet on the growth of the space launch industry in the U.S., the digital infrastructure company said.
"The United States is setting out to multiply its launch cadence several times over this decade, and every one of those vehicles has to be fueled," Chief Executive Officer Parker Scott said. "We would rather own a position in the supply chain underneath that growth than try to pick which vehicle wins."
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