Why Shares in Uranium Energy Surged Again Today
Shares in Uranium Energy (NYSEMKT: UEC) rose by as much as 11.3% in morning trading as investors digested the latest news in the ongoing tariff escalation. As of 2:10 p.m. ET, the stock was still up 6%.
President Trump ordered a probe into potentially imposing tariffs on critical mineral imports, including uranium. As such, investors have been buying domestic uranium miners, including Uranium Energy, in anticipation of potential tariffs on imports.
Uranium is a hot topic, given the increasing investment in nuclear power to supply energy to data centers in light of the boom in demand for artificial intelligence (AI) applications. All three leading cloud services companies (Microsoft's Azure, Alphabet's Google Cloud, and Amazon Web Services) signed deals to procure nuclear-powered energy last year.
Source Fool.com
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