Why Uranium Stocks Plummeted Over 10% Today

Why Uranium Stocks Plummeted Over 10% Today

Uranium stocks climbed higher and higher this past month, but the market correction put a stop to that. Across the board, uranium stocks started to fall — most by over 10%. So, let’s take a look at what’s happening to make uranium stocks drop and whether Motley Fool investors should see this as an opportunity or not. What happened?

Uranium stocks tumbled at the recent market pullback on Monday. Cameco (TSX:CCO) (NYSE:CCJ) , for example, fell by 5% in morning trading. But it wasn’t alone. Denison Mines (TSX:DML) (NYSE:DNN) was also down by 9% Tuesday morning, and others were down anywhere between 10% and 15%.

The drop likely comes from the surge in buying over the past few months in uranium companies. The TSX today dropped by 347 points, as of writing. This was about 2% compared to where it was Friday evening. However, it’s significantly lower than where it […]

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