Why Cameco Stock Just Popped

Why Cameco Stock Just Popped

Nuclear power is looking like a more attractive alternative to relying on natural gas from Russia right now.

What happened

At approximately 10 p.m. ET Wednesday, Russia launched a major military assault on its neighbor Ukraine — and all of a sudden, Europe’s policy of depending on Russia to supply much of the natural gas it uses for heating homes and generating electricity is seeming less prudent.

One stock benefiting from this realization is Cameco ( CCJ 8.38% ), one of the world’s biggest miners of uranium used in nuclear power plants. As of 2:15 p.m. ET Thursday, Cameco shares were up 6.7%. So what This was a natural reaction on investors’ part. As the BBC pointed out in an article published Thursday, Russia supplies around 40% of the natural gas that the European Union imports.Much of that supply is now at risk due to the ongoing hostilities: Two of […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet