(C) Reuters. Clean Energy Fuels: Buy, Sell, and Hold?
Clean Energy Fuels (NASDAQ:CLNE) is down nearly 50% since early February. Should investors buy the dip? Or is it the start of a bear market for the stock? Patrick Ryan breaks it down below.
Clean Energy Fuels (NYSE:UUUU) (CLNE) has climbed higher across the first four months of the year. Clean energy stocks have been strong due to improving economics and the Biden administration’s plans to increase investment. CLNE is leading the charge for energy change, providing companies such as Amazon (NASDAQ:AMZN) with renewable natural gas.
The company provides natural gas used for transportation purposes in North America. Aside from Amazon, examples of CLNE customers include ports, trucking businesses, airports, shuttle services, taxi services, and refuse-oriented companies. CLNE operations are in both the United States and Canada.
How high can CLNE go? Will the stock level off after profit-taking occurs in the days and weeks ahead? Or will CLNE continue to climb? Let’s take a deep dive into CLNE in an attempt to predict where the stock will go from here.
Clean Energy Fuels: Buy, Sell, and Hold?
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