The Tellurian Inc (NASDAQ: TELL) stock had made significant gains after it made a major announcement last week but in recent days the stock has corrected quite sharply from those highs.
In order to get a better idea of what actually happened with the stock, it is necessary to take a closer look at a key development with regards to the company from mid-March. The company announced that it repaid a term loan it took out in 2019 through a prepayment.
Tellurian went on to point out that the prepayment of around $38 million was voluntary in nature and was paid out of the cash it had in its hand at the time. It was a major move from the company since it helped in cutting the debts of the company to $21 million at one go. Naturally, the stock gained after the announcement but now it has corrected sharply. Could this be a buying opportunity for new investors?
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.