Why Uranium Royalty Stock Crushed the Market Today

Why Uranium Royalty Stock Crushed the Market Today

What happened

After sinking the most among uranium stocks during Monday’s market sell-off triggered by worrisome news from China and a cautious outlook on uranium from Morgan Stanley , shares of Uranium Royalty ( NASDAQ:UROY ) raced ahead of the industry today. Shares were up 10.3% as of 12:40 p.m. EDT Tuesday after hitting a high of 17.3% in early morning trading.

Investors in uranium clearly found an opportunity after the stock’s steep decline the previous day. So what

Although all uranium stocks have risen massively in the past month or so, Uranium Royalty has absolutely crushed them all, even doubling in a matter of days at one point.One reason why Uranium Royalty caught investor attention was its recent bid to buy uranium from the spot market. Last week, Uranium Royalty entered contracts to purchase 300,000 pounds of uranium .Uranium prices have shot up almost 60% in just the past […]

About the author: StockMan

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