Wall Street Bets Triggers Uranium Rally: ETFs to Tap

Wall Street Bets Triggers Uranium Rally: ETFs to Tap

Energy prices have been on the rise this year on a recovery in demand from the worst of the COVID-19 lockdowns as well as limited supplies. Although natural gas and coal are surging to new heights, uranium has surged to the highest level since 2014 (read: Natural Gas ETFs Spike on Storm Threat and Tight Supply ).

Most of the rally was driven growing social media attention. This is especially true as the Wall Street Bets forum, which spark an enormous rally in the so-called meme stocks like GameStop GME and AMC Entertainment AMC this year, has now zeroed in on uranium. Retail investors on Twitter are banking not only on uranium reversing its nearly decade-long bear market, but also kicking off a " Nuclear Renaissance," that will mark a radical transformation in energy production.

Additionally, the launch of the Sprott Uranium Physical Trust in mid-August contributed to the rally. Investment […]

About the author: StockMan

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