Why Uranium Energy Stock Touched a 52-Week High Monday

Why Uranium Energy Stock Touched a 52-Week High Monday

What happened

Uranium Energy ( NYSEMKT:UEC ) surged in early trading on Monday, jumping by 9.4% to hit a 52-week high of $4.28 a share before losing some of that ground. The uranium mining stock closed the trading session up by 3.1%.

Uranium Energy got fired up last week and continued its rally Monday thanks to a sudden jump in uranium prices. So what

After a dizzying rally that began in mid-August sent uranium prices to a nine-year high of $50.8 per pound in September, the rally fizzled out, and the commodity slid to almost $34 a pound on Oct. 8.It wasn’t random, though, when uranium prices started to rise again from Oct. 8 onwards. That was also the day when the Sprott Physical Uranium Trust ( OTC:SRUU.F ) announced it had bought 300,000 pounds of uranium, three days after buying 500,000 pounds, following a dry spell that had […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
  • 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!


No comments yet