Why Cameco and Other Uranium Stocks Exploded This Week

Why Cameco and Other Uranium Stocks Exploded This Week

A massive breakthrough in the nuclear energy industry could be the turning point for the uranium industry.

What happened

Uranium stocks cruised through this week of August on a high note, with nearly every stock clocking double-digit gains. Despite cooling off a bit on Friday, here’s how much popular uranium stocks had rallied in the week through 1:30 p.m. ET Friday, according to data provided by S&P Global Market Intelligence .

Just when investors were starting to feel nervous about the prospects for uranium miners, a hugely unexpected development in the nuclear energy industry sent uranium stocks shooting for the moon. If things turn out as expected, the golden era for uranium stocks could be just around the corner. So what The nuclear disaster at the Fukushima Daiichi nuclear power plant in March 2011 pretty much closed the door on the uranium industry. Nuclear reactors run on uranium fuel, and […]

About the author: StockMan

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