Why Uranium Stocks Are on Fire Today
Uranium stocks sizzled hot Monday morning after a huge development in the industry reignited heavy buying in stocks across the board. Here's how much some of the top-performing uranium stocks had rallied at their highest point in trading on Oct. 18, as of this writing:
Uranium stocks were unstoppable until last month when the world's first and largest physical uranium exchange-traded fund, Sprott Physical Uranium Trust (OTC: SRUU.F), seemingly slowed its pace of uranium purchased from the spot market after an unstoppable spree since its inception on Canada's Toronto Stock Exchange in July. Aggressive purchases by the fund had sent uranium prices soaring.
The Sprott Physical Uranium Trust fund, though, sprang back to action this month. It announced two bulk purchases of uranium, on Oct. 5 and Oct. 8. That, coupled with news emerging from France and Japan about their intention to restart or build nuclear reactors, helped uranium stocks rebound last week.
Source Fool.com
