Core Thesis - NextDecade Corporation (NEXT) is positioned for potential upside due to recent positive developments, including the final investment decision (FID) for Rio Grande LNG Train 4 and expectations for Train 5's FID before November 15 [2][4] Financial Performance - As of October 2nd, NEXT's share price was $6.55, with trailing and forward P/E ratios at 40.83 [1] Recent Developments - The company secured a 1.5 MTPA, 20-year sale and purchase agreement (SPA) with EQT, which is crucial for its growth strategy [2] - The LNG sector is experiencing accelerated expansion, highlighted by Sempra's Port Arthur Phase 2 FID, indicating a favorable market environment for NEXT [2][4] Market Sentiment - There is a confluence of project de-risking, commercial agreements, and significant insider buying, which could lead to a material repricing of market expectations for NEXT [3][4] - Shares are currently trading in the mid-$7 range, with potential catalysts including Train 5 financing announcements and additional SPAs [3] Investment Opportunity - NEXT is seen as a compelling investment opportunity for those looking to gain exposure to the U.S. LNG market, supported by tangible near-term triggers and structural backing [4] - Despite the volatility typical of mid-cap LNG developers, the combination of insider conviction and new FIDs creates a favorable environment for upward price momentum [4]