Investors betting on Clean Energy Fuels (NASDAQ:CLNE) and CLNE stock are seeing some nice momentum in recent days. Today’s pop of more than 6% for CLNE stock is a continuation of the move that has seen shares of Clean Energy rise approximately 20% over the past five trading days.
As with other high-profile meme stocks, the retail investing community is adopting Clean Energy as a potential short squeeze play. Indeed, the company’s short volume ratio of 24% is high. Any stock with a short volume ratio at or above 20% has the potential of being targeted as a potential squeeze play. And given the chatter on various social media platforms around CLNE stock, this company has more than entered the short-squeeze discussion of late. In fact, CLNE stock is the most-mentioned stock on r/WallStreetBets at the time of writing.
Now, it’s worth noting that not all short-squeeze meme stock plays are moving in sync right now. In fact, Clean Energy has its own catalyst today that’s assisting in the stock’s rise.
Let’s dive into what’s going on with Clean Energy right now.
CLNE Stock Moving on Rebranding Announcement
This company’s management team hopes this rebranding effort will focus investors’ attention on Clean Energy’s positioning as a leading provider of renewable natural gas for the transportation industry. The company touts its commitment to expanding renewable fuels. Presently, this expansion is focusing on investments in the dairy and agricultural sectors.
This messaging is intended to denote a circular economy, where waste is turned into sustainable fuel. Clean Energy’s coals are altruistic. Accordingly, investors appear to be jumping on this stock for more reasons than one.
CLNE stock certainly remains a favorite of meme stock investors and short squeeze hopefuls. However, there are other reasons to own this stock today. Indeed, it appears any sort of positive news is being viewed as a catalyst by investors. This is certainly an interesting stock for investors to keep on their watchlist right now.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.