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
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