New Trade for June 23rd, 2023

Stocks have been under pressure this week following more hawkish-than-expected comments from Fed Chair J. Powell. The three major indices ticked lower this morning and were on track to break their multi-week winning streaks.

Today we’re highlighting a small-cap company with business expansion and margin improvements on deck for the year’s second half. Wall Street foresees an average 72% upside in the next twelve months for this tiny company’s stock, which currently trades for less than $5 a share.  

Clean Energy Fuels (CLNE)

Natural gas is turning out to be one of the more popular petroleum fuels in the world right now. In fact, data from the Energy Information Administration (EIA) shows that natural gas was the second most widely used fuel in the U.S., accounting for 32% of the energy consumption in 2021, thanks to rapid adoption within the electricity sector.

Natural gas distributor, Clean Energy Fuels, is expanding its business beyond conventional natural gas in 2023. The company is diversifying its historical status as purely a fuel distributor towards in-house renewable natural gas (RNG) production.

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