Why the Liquefied Natural Gas Ltd share price plunged 16% today

The Liquefied Natural Gas Ltd (ASX:LNG) share price has lost more than 80% since April

| More on:

The Liquefied Natural Gas Ltd (ASX: LNG) share price has been absolutely crushed today, falling 16.4% and making it the worst-performing share on the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO).

Followed closely behind LNG Ltd are Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO), down 16% and 13.1% respectively, following a horror night for oil prices.

LNG Ltd’s share price is now sitting at just 94 cents which is the company’s lowest share price since June 2014.

If you own shares of Liquefied Natural Gas, you might want to look away now…

Source: Google Finance; One-year LNG Ltd share price chart
Source: Google Finance; One-year LNG Ltd share price chart

Shares of LNG Ltd have now fallen more than 81% since they peaked at $5 in April this year. As oil and liquefied natural gas prices continue to deteriorate, LNG Ltd is becoming an increasingly risky investment prospect and one that ‘Foolish’ investors would be wise to avoid, for now.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Investing