Why Uranium Stocks Exploded This Week

Shares of uranium stocks were on fire this week as uranium spot prices continued a steady rise. According to data by Markets Insider, the spot price of uranium is up 65.5% so far this year and has risen from $42.40 per pound to close last week to $49.65 as I'm writing. This has suddenly become a hot commodity in the energy industry.

Uranium Royalty (NASDAQ: UROY) led the way by climbing 36.6% from the close of trading last Friday to the market close Thursday night. Ur-Energy (NYSEMKT: URG) jumped 9% over the same time frame and Energy Fuels (NYSEMKT: UUUU) was up 6.9%. The three stocks had a maximum intra-week gain of 52%, 17.5%, and 17.8%, but gave back some of that by the end of the week.

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Source Fool.com