The Big Reason Uranium Stocks Surged Today

The Big Reason Uranium Stocks Surged Today

What happened

Uranium stocks took off on Jan. 5, with stocks across the industry surging by double-digit percentages in early-morning trading to extend their gains this week. Here’s how some of the top-performing uranium stocks were faring as of 1:43 p.m. ET Wednesday.

Blame political unrest in the world’s largest uranium-producing country. So what

Kazakhstan, in Central Asia, has around 12% of the world’s uranium resources but accounted for 43% of the global uranium supply in 2019, according to the World Nuclear Association. The nation produces and supplies nearly all of its uranium through the government-owned company, Kazatomprom, the world’s largest uranium-producing company. Image source: Getty Images. Any instability in Kazakhstan that could jeopardize economic growth, therefore, is bound to send ripples across key sectors. That’s exactly what’s happening within the uranium industry right now as fears of a disruption in supply has gripped the market, right when demand for […]

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