CLNE - Why Clean Energy Fuels Stock Soared Today
Shares of Clean Energy Fuels (NASDAQ: CLNE) soared Monday morning after the company announced an agreement with Amazon (NASDAQ: AMZN) . After initially jumping more than 25%, shares remained up almost 16% as of 11 a.m. EDT.
The agreement calls for Clean Energy Fuels to provide Amazon low- and negative-carbon renewable natural gas (RNG) in 15 different states. The supply will come from 27 existing Clean Energy fueling stations, and another 19 that the company plans to have built or refurbished by the end of the year. The fuel agreement also includes a warrant for Amazon to purchase up to about 53 million shares of Clean Energy common shares.
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Why Clean Energy Fuels Stock Soared Today