UEC - Is Uranium Energy a Millionaire-Maker Stock?
2024-04-13 11:35:00 ET
Stock investors usually have some financial goal in mind. A frequent one is to become a millionaire. Sometimes these investors get so locked into the idea of finding that one stock that will make them "rich," preferably as quickly as possible, that it blinds people to the inherent risk of investing.
If you're looking at Uranium Energy 's (NYSEMKT: UEC) big stock run over the past year and thinking that it could mint some new millionaires (including you), you need to stop. Selling uranium has a long history of being a tough business.
Uranium Energy sells uranium. What's notable is that, at this point, the company doesn't mine for the nuclear fuel at the moment. Instead, management made what looks like a genius move, at least in hindsight, to ink agreements to buy uranium while it was priced near historic lows. It now has a large stockpile of the fuel that it can sell at a profit, since uranium prices have increased notably since it started buying.
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Is Uranium Energy a Millionaire-Maker Stock?