NXE - Uranium stocks resume upward surge as yellowcake rises to highest since 2014

Cameco (NYSE:CCJ) +4.3% pre-market as uranium prices continue to soar and the stock generates interest at WallStreetBets. Other pre-market gainers include UUUU +5.5%, UEC +7.5%, URG +5.4%, DNN +6.3%, NXE +3.7%. Investors are betting that nuclear power will be a key part of the shift away from fossil fuels, with the World Nuclear Association forecasting uranium demand climbing from 162M lbs. this year to 206M lbs. in 2030 and 292M lbs. in 2040, while the supply of uranium is seen sliding 15% by 2025 and 50% by 2030 due to a lack of investment in new mines. Uranium futures have surged 40% to $42.40/lb in less than a month, according to FactSet data, and the Global X Uranium ETF (NYSEARCA:URA) has spiked 70% YTD, including 50% gains just since August 19. Uranium stocks surged on Friday after Sprott PhysicalUranium Trust, which has been buying uranium aggressively on the spot market, said

For further details see:

Uranium stocks resume upward surge as yellowcake rises to highest since 2014