Why Nuclear Stocks Are Glowing Green Today
What went up, just came back down again.
Three weeks ago, a strong rebound in the price of uranium metal for nuclear fuel helped lift the share prices of uranium mining stocks as much as 10%. Ultimately, uranium prices peaked just short of $53 a pound before falling back again. Today, uranium prices are back down below $48 -- and still falling. Strangely though, shares of uranium stocks including Uranium Energy (NYSEMKT: UEC), Energy Fuels (NYSEMKT: UUUU), and NexGen Energy (NYSE: NXE) are shrugging off this decline and continuing to power higher.
As of noon ET on Tuesday, Uranium Energy is up 5.3%, NexGen Energy is rising 5.9%, and Energy Fuels is leading the sector higher with a 6.3% gain. Why is that?
Source Fool.com
