Jim Cramer Recommends Clean Energy Fuels Corp (CLNE)

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08:08:29 am on August 26, 2008

 

Last Night on CNN’s Mad Money, Jim Cramer recommended Clean Energy Fuels Corp as a good alternative energy investment. Clean Energy Fuels  Corp is owned by Texas oilman T. Boone Pickens, who recently put forth a plan to wean us from our dependence from oil called Pickens Plan. The Pickens Plan involves replacing as much of our power generation as possible with renewable sources such as wind, and then switching over to natural gas for our cars. Clean Energy Fuels Corp will produce the natural gas fuel for vehicles. Speaker of the House Nancy Pelosi and her husband invested heavily in the stock back in 2007, and hold $50,000 to $100,000 worth of stock.

According to 24/7  Wall Street,

Cramer believes this is as big of a ringing endorsement of the highest sort, but because it is thin volume he wants you waiting five days before pulling the trigger.

This was recently downgraded by Broadpoint, and Pickens recently talked it up ahead of his traveling around to discuss the Pickens Plan.  Shares were flat today, but after the Cramer tout this stock traded up 7% to $15.25 in after-hours trading.

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