Clean Energy Fuels: A Meme Stock Worth Investing In?

  • Date: 08-Jun-2021
  • Source: Forbes
  • Sector:Oil & Gas
  • Country:Gulf
  • Who else needs to know?

Clean Energy Fuels: A Meme Stock Worth Investing In?

Natural gas supply company Clean Energy Fuels (NASDAQ: CLNE) saw its stock rise by almost 15% over the last week (five trading days) outperforming the S&P 500 which has remained roughly flat over the same period. It appears that the stock is gaining the attention of Reddit investors, who have been piling into stocks with relatively high levels of short interest and low stock prices. At one point, the stock was up by over 20% between Thursday and Friday, despite the fact that there wasn't much meaningful news relating to the company, or the broader oil and gas space. So how is Clean Energy Fuels stock expected to trend in the near term? Is the stock poised to rise further from here, or is a decline looking likely? Based on our machine learning engine, which analyzes Clean Energy Fuel's historical stock price movements, the stock has a 51% chance of a decline over the next month, after rising by almost 15% over the last five trading days. See our analysis on Clean Energy Fuels Stock Chances Of Rise for more details. So what's the fundamental picture like for CLNE? The company is a leader in the renewable natural gas business,