What happened
Shares of uranium mining company Uranium Energy ( NYSEMKT:UEC ) snapped a two-day, pre-holiday losing streak — and snapped back dramatically higher on Monday. Indeed, at $3.78 per share as of 1:05 p.m. ET, shares of the uranium miner are up 10.8% and are worth more than at any time in the past month. Image source: Getty Images. So what
Why are Uranium Energy shares glowing green today? As I hinted earlier this month, there’s a curious dynamic going on with the uranium prices that underlies the prices of shares of uranium stocks.
Over the past few months, uranium prices have repeatedly risen and fallen, but each successive "peak" seems to be lower and lower. After passing $50 a pound in September, and falling, uranium prices only topped $48 a pound before falling again in October. In November, the peak price didn’t even reach $48 before falling — […]
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