Why Uranium Stocks Are Crashing Today

Why Uranium Stocks Are Crashing Today

What happened

Uranium stocks are taking a breather this morning after a torrid run last week. Here are the top losers in the industry as of 12:40 p.m. EDT on Monday: Uranium Royalty (NASDAQ: UROY): down 15%.

Denison Mines (NYSEMKT: DNN): down 12.9%.

NexGen Energy (NYSEMKT: NXE): down 11.7%. Uranium Energy (NYSEMKT: UEC): down 10.9%. Ur-Energy (NYSEMKT: URG): down 10.7%. Cameco Corp (NYSE: CCJ): down 7.6%. Although the International Atomic Energy Agency just raised its long-term nuclear energy estimate substantially, the broader market weakness, muted outlook from Morgan Stanley, and news from China are all weighing on uranium stocks today. So what Uranium stocks have been on fire in recent weeks alongside uranium prices, which shot up almost 60% in just the past four weeks thanks to aggressive spot uranium purchases by the world’s largest physical uranium exchange-traded fund , the Sprott Physical Uranium Trust Fund (OTC: SRUU.F).As of […]

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