Why Uranium Stocks Dropped This Afternoon

Easy come, easy go.

Shares of uranium mining stocks that popped earlier this week, on news that a Senate committee advanced legislation to create a U.S. national strategic uranium reserve, are moving in the opposite direction today. As of 3:30 p.m. EST, shares of Uranium Energy (NYSEMKT: UEC) -- the biggest mover in the group Monday -- are down 7.7%, while Energy Fuels (NYSEMKT: UUUU) -- Monday's second-biggest gainer -- are down 9.8%.

Denison Mines (NYSEMKT: DNN) and Cameco (NYSE: CCJ), both of which posted smaller moves on the Senate news earlier, are both down today as well -- just not as much.

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Source Fool.com