Why Clean Energy Fuels Stock Crashed Today
Clean Energy Fuels (NASDAQ: CLNE) stock tanked Friday morning after the renewable gas producer's third-quarter earnings missed Wall Street estimates. The market had been expecting something bigger, especially after the company bagged a five-year contract with Amazon in April.
Clean Energy Fuels shares were down 8.5% as of 11:40 a.m. EDT.
The company's revenue jumped 21.5% year over year to $86.1 million. With the economy reopening after the COVID-19 pandemic-induced shutdowns and travel and movement of goods normalizing, Clean Energy Fuels delivered 104.2 million gallons of fuel in the third quarter, up 6.7% year over year.
Source Fool.com
