Nuverra -20% premarket on negative Seeking Alpha article

|By:, SA News Editor

Nuverra Environmental Systems (NES) -20.9% premarket after a Seeking Alpha post by MBAvalueinvestor says shares could lose 80% over the next year.

NES is "a destroyer of capital," constantly posting disappointing results and overstating guidance, and its power fuels and core businesses are in decline, the article says.

A "liquidity crisis is looming": NES has $551M of debt and borrowing capacity has been restricted on its credit facility, it has cut spending but is still set to violate its credit facility covenants by year-end.