Reddit investors bet uranium will go nuclear

Reddit investors bet uranium will go nuclear

Reddit investors bet uranium will go nuclear

Prices of uranium and companies that mine the radioactive element are surging as Reddit investors place bets that nuclear power could be the next big clean energy source.

Uranium, which does not trade on public markets, reached a nine-year high on 15 September at $48 per pound, up $5 or 11.6%, in just two days, according to S&P.

The price increase in the commodity itself was driven by Sprott Physical Uranium Trust, a Toronto-listed exchange-traded fund (ETF) that gives investors direct exposure to the metal. The fund bought 850,000 pounds of nuclear fuel last week, 1.4 million pounds the week before that and holds more than 26 million pounds since launching in July, reported Fortune.All that buying added around 3% to global demand, according to analysts at Bank of America . Reddit run Reddit users that backed shares of GameStop and AMC Entertainment have set […]

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.

Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet