Why Uranium Stocks Melted Today
Uranium stocks got hammered on Thursday, with shares of companies from established players to young miners taking a hard beating. Here's how much some of the top losing stocks from industry had fallen by 3:50 p.m. ET:
There seemed to be no fresh news catalyst to explain the meltdown in uranium stocks, and they evidently rode the broad-based sell-off in commodity stocks Thursday. Chances are, uranium stocks would have fared much better otherwise given the latest updates coming from the industry.
Among the factors that typically affect uranium stocks, prominent ones include uranium prices, fossil fuel prices, and developments in the nuclear energy industry. From that standpoint, Thursday should have been a bumper day for uranium stocks.
Source Fool.com
