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.
Clean Energy Fuels is selling more fuel than ever, but revenue and earnings are down. Image source: Clean Energy Fuels Corp.
Source: Fool.com
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