4 Big Reasons Uranium Energy Stock Surged This Week
Uranium Energy (NYSEMKT: UEC) stock has become unstoppable -- after a dizzying rally in the month of October, the uranium stock shot up another 18.3% this week as of 2:30 p.m. EST Friday, according to data from S&P Global Market Intelligence.
Four major catalysts drove the stock higher: higher uranium prices, big news coming in from the nuclear energy industry that forms the backbone for uranium companies, a mega-growth move from Uranium Energy, and an analyst upgrade.
Earlier in November, Bloomberg reported that China is planning to build as many as 150 new nuclear reactors over the next 15 years. Investors who have followed the uranium industry closely will know how the deadly Fukushima Daiichi nuclear disaster of 2011 closed the doors on nuclear reactors worldwide, and with it, on the businesses of uranium miners as uranium is the key fuel that power nuclear reactors.
Source Fool.com
