CLNE - Down 40% in a Year Is Now the Right Time to Buy Clean Energy Fuels Stock?
2023-12-07 09:44:00 ET
Shares of Clean Energy Fuels (NASDAQ: CLNE) are down a little over 40% over the past year. They're off 80% from their most recent highwater mark in 2021. Is this an opportunity to buy a company with huge clean-energy bona fides, or would investors be better off taking a more conservative approach in the space?
The world is shifting toward cleaner energy options. Natural gas is expected to be a key transition fuel, even though it's a carbon-based fuel. That's because it burns more cleanly than both coal and oil. It's also highly flexible. For example, it has long been used by electric utilities , but it's increasingly being used to power vehicles. It's the latter use that Clean Energy Fuels focuses on.
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Down 40% in a Year, Is Now the Right Time to Buy Clean Energy Fuels Stock?