What happened?
The shares of some popular Canadian uranium companies fell sharply on Thursday, reversing their gains from the previous couple sessions. Energy Fuels (TSX:EFR) , Denison Mines (TSX:DML) (NYSE:DNN), and Nexgen Energy (TSX:NXE) (NYSE:NXE) dived by nearly 9% each on January 6, making them some of the worst-performing stocks on the TSX Composite benchmark for the day. By comparison, the main Canadian stock market index ended the session with minor 0.2% gains. So what?
Yesterday’s sharp selloff in uranium stocks is worth noting, because most of these companies started the new year 2022 on a strong bullish note. For example, Denison Mines stock was trading with 14.4% year-to-date gains prior to Thursday’s sharp decline. Similarly, the shares of Energy Fuels and Nexgen Energy had jumped by 13.4% and 12.1%, respectively, in the first couple of days of the year. In order to understand the recent uranium stocks selloff, […]
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