CLNE - Here's Why Clean Energy Fuels Stock Jumped 20% Today
Shares of Clean Energy Fuels (NASDAQ: CLNE) were up 19.8% at 12:42 p.m. EST on Tuesday on exceptionally heavy trading volume. As of this writing, more than 3.2 million shares have traded hands, more than five times the average full-day volume in recent months.
Today's jump is almost certainly tied to Congress' steps toward passing a bill that may include the reinstatement of a tax credit that Clean Energy would benefit from enormously. The so-called "tax extenders" bundle includes an alternative-fuels tax credit that, in years past, has been worth almost $30 million to the company.
Natural gas pumps at a Clean Energy Fuels station. Image source: Getty Images.