Cramer Remains Bullish on Clean Energy (CLNE)

On last night's Mad Money, Jim Cramer recommended investors take a look at shares of Clean Energy (Nasdaq: CLNE), a stock the host last recommended on August 1. Since that day, Clean Energy has traded in a range, prompting Cramer to suggest the energy play once again.

Cramer believes shares of Clean Energy will see a jump soon amid the passage of a November issue in California which targets the setting-aside of $5 billion in order to convert about 70,000 trucks and 150,000 cars in the state to compressed natural gas. Cramer points out that the initiative is currently pulling-in a 60% approval rating at polls.

As this project is presently Clean Energy's largest development, he sees a large windfall for the company if the issue is passed.

The President of Cramerica also notes several other points which seem bullish for Clean Energy sharholders: the stock is just coming off a better-than-expected Q2 earnings report and has the support of House Speaker Nancy Pelosi, who owns about $100,000-$250,000 worth of the stock.

Cramer's recommendation has caused shares of Clean Energy to spike in after-hours trading: the stock is currently up more than 7% from yesterday's close. The stock most recently traded at $15.30, up $1.09.

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada.

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