CLNE:  T. Boone Pickens Just Dumped Some Of This Stock…

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I love the idea of moving the US trucking industry towards cleaner burning homemade natural gas.  Currently the industry relies on expensive, and mostly imported, diesel.

The switch to natural gas would be great for the US economy, and good for the air we breathe.

But investors have been less than certain about CLNE’s unprofitable business.  Take a look and you’ll see shares have been all over the map the past few months…


As you can see, CLNE is on a roller coaster ride.  Shares popped higher from the $12 area three times since the beginning of the year.  Each time the surge came on promising progress in the company’s business.

For example, in mid-June shares of CLNE could be had for $12.50.  But then the shares surged to over $17… a sweet 35% gain in a matter of weeks.

What caused the jump?

Chesapeake Energy (CHK) revealed they’re investing $150 million in the company to support natural gas fueling stations along US trucking corridors.

Investors loved the news and they bid up shares quickly…

But then the August stock market mini-crash (as I like to call it) sent shares of CLNE back down to earth.  Within days, the stock was once again trading at $12.

And that’s when I started buying…

The $12 technical support area has proven time and again to be a solid buy point for CLNE.  Initially, the stock got a nice bounce up to $14 on news of the additional $150 million investment in the company.

But then something interesting happened…

T. Boone Pickens, the founder of the company, sold a boatload of CLNE.  According to a SEC Form 4 filing, T. Boone dumped 1.3 million shares between August 30th and September 1st.

CLNE quickly came back down to $12… and I nearly had a heart attack.

Why would T. Boone, who still sits prominently on the Clean Energy Fuels board of directors, slash his holdings?  Is there something wrong with the company?

Upon further review, T. Boone’s three-day selling marathon was for estate planning purposes.  The corporate entity selling the stock was Boone Pickens Interests Ltd.  And according to the SEC, the seasoned Texas millionaire still holds over 16.5 million shares of CLNE.

Whew!

My worries over the stock diminished even more when news of a marketing deal between Shell (RDS-A) and Westport Innovations (WPRT) hit the wires yesterday.

The news sent CLNE up 13% on the day…

Why did CLNE get such a big pop on the news?  The promising deal will quicken the adoption of natural gas as a transportation fuel in the US. And that means CLNE may be building a lot more natural gas fueling stations in the near future.

Is there still time for you to get on the CLNE bandwagon?

Yesterday's pop pushed CLNE back up to the $14 area.  But this stock tends to drop quickly in the face of broad market weakness.  That’s why I think you’ll get one more chance to buy this next generation transportation fuel leader at cheaper prices.

If CLNE hits the $12 support area again, consider buying it!

*** Editor's Note*** This is it!  Tomorrow morning Robert releases his latest recommendation for The Penny Speculator.  To get the details about the company, including the ticker symbol, you must be subscribed by tonight at midnight.  Want to know more?  Click here.

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