CLNE - Why Clean Energy Fuels Tumbled 20% in April
Clean Energy Fuels (NASDAQ: CLNE) fell 19.9% in April according to S&P Global Market Intelligence . The stock was already slipping early in the month, but fell sharply after the company announced a deal to supply Amazon (NASDAQ: AMZN) with low- and negative-carbon renewable natural gas (RNG). That drop came after the news initially propelled shares as much as 25% higher.
Image source: Clean Energy Fuels.
Clean Energy operates more than 550 stations providing liquid and compressed natural gas for fleets across North America. Landing Amazon as a customer is a big deal, so you would think the stock would rally. The fly in the ointment is the warrant the company issued to the retail and internet giant.
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Why Clean Energy Fuels Tumbled 20% in April