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Finance

Will Reddit Make It Explode Like AMC?

Clean Energy Fuels (CLNE) stock has moved sharply in recent days. The stock has gained more than 22 percent in the past week to outshine the S&P 500, which has only climbed 0.60 percent in the same period. It ranks among the trending meme stocks right now on platforms like Reddit. However, CLNE stock is still far from its February peak. What is the CLNE stock forecast and how high can it go now that its popularity on Reddit is growing rapidly.

Clean Energy Fuels shares shot up more than 40 percent in pre-market trading on June 9 to go above $14. That followed a 4.4 percent decline on June 8 that saw the stock close at $9.90. The stock dropped as investors reacted to the company selling additional shares to raise money for investments. Additional share sales cause investors to worry about value dilution.

Will CLNE stock explode like AMC?

AMC has been on fire and recently ranked as the most popular meme stock on Reddit. The theatre chain stock hit an all-time high above $72. Although the stock has pulled back from that peak, it still carries impressive gains of nearly 500 percent in the past month and 2,500 percent YTD. 

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Source: Clean Energy Fuels Facebook

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Clean Energy Fuels sells RNG (renewable natural gas), which can be used as fuel in vehicles and to run other machines. For example, it supplies RNG that power cargo trucks that operate in Los Angeles and Long Beach ports. It has RNG distribution and production partnerships with Chevron, Total, and BP. 

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RNG is in high demand as governments tighten vehicle emission regulations and businesses try to reduce their environmental impact. Its use goes beyond the transport industry. For example, RNG can produce electricity for homes and factories. 

The gas can also be a feedstock in the production of green hydrogen fuel, which in addition to generating electricity for homes and industrial operations can be used to power electric aircraft. Therefore, investors see strong long-term demand for Clean Energy Fuels’ RNG. Amazon, which has a large fleet of delivery trucks, is among Clean Energy Fuels’ customers for renewable natural gas supplies.

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View more information: https://marketrealist.com/p/clne-stock-forecast-reddit-how-high/

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