Why Clean Energy Fuels Corp. Dropped 10% in August
Shares of Clean Energy Fuels Corp. (NASDAQ: CLNE) dropped 10.5% in August. Virtually all of the drop occurred on August 4, the day after the company reported a loss for the second quarter of 2017.
Coupled with a controversial decision earlier in the year to sell the company's renewable natural gas production facilities to BP (NYSE: BP), investors clearly decided to take this opportunity to sell, which sent the stock down.
Source: Fool.com