Why Are Uranium Stocks Surging in 2021?

Uranium stocks have been the big thing over the last few months. Many have doubled or more in a very short period of time. Cameco (TSX:CCO) (NYSE:CCJ) , for example, is up 100% in the last year, and Denison Mines (TSX:DML) (NYSE:DNN) is up an incredible 240% as of writing. Yet this comes on the heels of a pretty substantial pullback, and it should have Motley Fool investors worried. But does that mean you should give up on uranium stocks all together? Let’s dig in and take a look. What happened?

Uranium stocks exploded this year due to two factors. First, there was the announcement from President Joe Biden back in January that billions would be put towards clean energy initiatives. This included using current clean energy assets, such as nuclear reactors. This sent uranium prices higher after a decade of almost no growth, as it was tied to […]

Click here to view original web page at www.msn.com

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.