Why Sunrun and Vivint Solar Stocks Rose Today, but Clean Energy Fuels Dropped
At the same time, shares of Clean Energy Fuels (NASDAQ: CLNE), which distributes liquefied and compressed natural gas for use as a vehicle fuel, plunged from the outset, and kept on falling to close the day down 13.6%. Sunrun has bid to acquire its smaller solar-installer rival, Vivint Solar, in a deal that will see Sunrun trade 0.55 shares of its own stock for every share of Vivint now outstanding. If consummated, the merger will create a new titan in the American solar market: the largest solar installer and solar panel lessor in the country, with annual sales exceeding $1.2 billion.