Clean Energy Fuels (Nasdaq: CLNE) stock declined on Tuesday after the company was criticized by analysts at Piper.
The only thing worse than the Piper comments is the fact that investors don't know or bother to follow up on garbage comments. Seems it's too easy to short a stock and put out misleading comments, easy money. It's not investing. Seems CLNE is a good long term buy at $11. Probably best acquire it in parts considering the macro #$%$.
In response, the company's Director of Investor Relations, Tony Kritzer, made the following statement to StreetInsider.
"The piper analyst was completely incorrect and incredibly irresponsible in putting out that note.
We think the future will be a combination of CNG and LNG (lots of reasons for LNG including range, weight, and station costs).
BUT, for the sake of argument, let's say it goes 100% CNG
2. 70% of our business is CNG
3. We've build more CNG stations than the rest of the industry combined
4. We spent $140mm on a world-class compressor company in anticipation of a huge surge in CNG infrastructure build out
5. CNG pipelines only run in urban areas. The only way to get CNG fuel to rural and highway truck stops is through L/CNG. All of our LNG stations are designed to have this capability."
I bought back in a small position yesterday.. they still sold the H out of it today on the same old misleading #$%$.. I think half these folks have not got a clue on what a company does.
A old investor told me when I started ( Show ME the Money ) he went on to explain to him that meant How does this company make A Sale and How much of that revenue is Profit.. don