Uranium mining stocks were looking radioactive in Wednesday afternoon trading — in a bad way, as in, investors were running away from them. At the close of the session, Denison Mines (NYSEMKT: DNN) was down 7.6%, Energy Fuels (NYSEMKT: UUUU) was down 9.8%, and Uranium Energy (NYSEMKT: UEC) was down 9.9%.
But you probably shouldn’t be surprised. So what
Fact is, after topping out near $65 per pound in mid-April, the spot price of uranium has plunged by about 25% to a recent price of $48.75 per pound, according to data from TradingEconomics.com .
Indeed, the situation is even a bit worse than that. According to a report just out from the uranium experts at Ocean Wall, uranium prices have actually fallen as far as $48 a pound today, and are now at their "lowest levels since the beginning of March" (which also tallies with TradingEconomics’ data).What’s the problem with uranium […]
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