Clean Energy Fuels (NASDAQ:CLNE) is experiencing massive gains for CLNE stock on Tuesday despite a lack of news from the company.
Instead, it looks like CLNE stock is soaring higher today alongside heavy trading. This has resulted in more than 8 million shares exchanging hands as of this writing. That’s quite the spike compared to its daily average trading volume of 1.52 million shares.
With CLNE stock getting all this attention, unfamiliar investors will likely have questions about the company. Luckily, we have a quick breakdown of Clean Energy Fuels below.
- As the name implies, Clean Energy Fuels is dedicated to the use of clean energy.
- This has it focusing on the use and development of natural gas as a fuel source.
- That includes switching over to semi-trucks that make use of its Zero Now fuel.
- The company says that this is a clean fuel that causes zero emissions.
- Clean Energy Fuels argues that trucking companies can make use of this new fuel instead of diesel.
- It also claims that the price is the same for the two, making the argument to switch more compelling.
- The company has already teamed up with several companies to offer up its natural gas transportation.
- It also says that natural gas is the better choice over electric vehicles due to the lack of coal needed to power plants.
- Clean Energy Fuels was founded in 2001 and currently has a market capitalization of $961.61 million.
CLNE stock was up 9.5% as of noon Tuesday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.