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CLNE - Why Shares of Clean Energy Fuels Plunged 12.3% on Friday
Clean Energy Fuels Corp.
After two days of huge gains for Clean Energy Fuels(NASDAQ: CLNE), the company's shares fell as much as 12.3% in trading Friday. At 3:10 p.m. EDT shares were still down 10.8% and were steady going into the weekend.
The rise in shares over the last two days was driven by a new partnership with Chevron to bring cleaner fuel to trucks in the Los Angeles and Long Beach, California, ports. Shares nearly doubled on the news earlier this week, but are now dropping back to reality today.