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Investing

Cramer Chases Pelosi & Pickens in Clean Energy (CLNE)

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By Douglas A. McIntyre Updated Published
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Clean_energy_tanker_2On tonight’s MAD MONEY on CNBC, Jim Cramer said that a stock you can buy that didn’t even have to buy off politicians to do well is Clean Energy Fuels Corp. (NASDAQ: CLNE).  This turns out that it was a rather large holding of Speaker Nancy Pelosi and her husband that was disclosed last week in the amount of $50,000 to $100,000 for their own investments back in 2007.

For those of you who follow alternative energy or follow marketpundits, this is T. Boone Pickens’ natural gas for auto vehiclesstock.  Pelosi clean energy desires make this an interesting play, andit makes one wonder if more legislation along the lines of the Picken Plan is going to really come down the pipe.

Cramer believes this is as big of a ringing endorsement of the highestsort, but because it is thin volume he wants you waiting five daysbefore 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.

Jon C. Ogg
August 25, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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