Why Energy Fuels, Denison Mines, and Uranium Energy Stocks All Crashed Today

Why Energy Fuels, Denison Mines, and Uranium Energy Stocks All Crashed Today

What happened

Shares of uranium miners Energy Fuels (NYSEMKT: UUUU), Denison Mines (NYSEMKT: DNN), and Uranium Energy (NYSEMKT: UEC) stocks resumed falling Thursday, dropping 7.6%, 9.7%, and 10.2%, respectively, through 12:50 p.m. EDT after rebounding in price earlier in the week.

According to The Wall Street Journal , investors are reacting (or perhaps overreacting) to news that a nuclear power plant in southeast China is seeing an increase in "noble gases in one of its reactors’ primary circuits, which is part of the reactor’s cooling system." So what

Now, Electricite de France SA , which co-owns the nuclear plant, says these gases are not "dangerous in small quantities," and crucially, we’re not talking about any sort of a radiation leak — yet. In the Journal ‘s estimation, the sell-off we’re seeing is an "unnecessary investor meltdown" because, as it goes on to explain, "uranium mining companies tend to operate on […]

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