Uranium stocks are trending higher today as prices for the metal continue to run higher. Also fueling the moves are reports that retail investors are looking at uranium-related securities as the next meme play.
Shares of Uranium Energy (NYSEMKT: UEC ), Cameco (NYSE: CCJ ) and Dennison Mines (NYSEMKT: DNN ) are each trending this morning as the spot price of uranium rises to $51 a pound, up 21% year to date as Russia’s invasion of Ukraine raises concerns about supply constraints.
There are also media reports that retail investors are targeting uranium stocks in an effort to push their prices up sharply as happened to companies such as GameStop (NYSE: GME ) over the past year.
Uranium prices have been rising along with other commodities like wheat, oil, nickel and gold. Prices for nickel and wheat have reached record highs in recent days, while prices for other commodities are at multi-year […]
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