Why Did Centrus Energy Stock Drop Today?
Centrus Energy (NYSEMKT: LEU), a supplier of low-enriched uranium nuclear fuel for nuclear power plants that's also developing the ability to produce high-assay, low-enriched uranium for use in advanced reactors, closed 3.3% lower Friday on what was already a red day for the stock market.
Image source: Getty Images.
There was no obvious Centrus-specific news behind the day's decline, although a few factors were likely weighing on the stock. First and foremost was the Trump administration's announcement of new tariffs on imports from dozens of countries around the world, and the threat to tighten sanctions on Russia in particular. Centrus' role as an importer of uranium, and Russia's role as a primary source of most uranium for nuclear fuel, puts Centrus in an awkward position here.
Source Fool.com
