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Why Uranium Energy Stock Crashed 11% Today

TheMotleyFool

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Why Uranium Energy Stock Crashed 11% TodayPhoto, wide shot, wide-angle lens, Coal mine, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/25526de2-54da-40ae-ba56-1e25dead3e81.png

Yesterday, Uranium Energy (NYSEMKT: UEC) announced that it had amassed $65.8 million and plans to spend $10.9 million of that to buy 400,000 pounds of uranium on the open market, which helped propel its stock up as much as 35%.

But today, news that the uranium miner is amassing even more funds and buying even more uranium is sending Uranium Energy stock back down, and it was off 11.1% as of 12:30 p.m. EDT.

Image source: Getty Images.

Source Fool.com

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