Why Uranium Stocks Plunged Today but Could Rebound Quickly

Why Uranium Stocks Plunged Today but Could Rebound Quickly

Panic selling gripped investors, but the uranium market is looking red hot right now.

What happened

Uranium stocks plunged today as the broader markets slid on fears of soaring inflation and a looming recession, what with a majority of leading economists even predicting the U.S. will slip into a recession in 2023, according to The Financial Times.

Ironically, the business environment couldn’t be more conducive for uranium stocks. One of the miners, in fact, even announced a big acquisition this morning; and President Joe Biden’s latest plan could mean big days ahead for local uranium miners. Yet as panic selling gripped the markets, here’s how some of the popular uranium stocks were faring as of noon Monday (all had dropped even lower earlier in the day): So what Prices of nearly all types of commodities — including precious metals, agricultural products, and energy — fell on Monday. Uranium prices, […]

About the author: StockMan

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