UEC - Why Plug Cameco and Uranium Energy Stocks Dropped
Wednesday is looking like a rough day for investors in the alternative energy space, with shares of fuel cell star Plug Power (NASDAQ: PLUG) down 5.5% through 10:45 a.m. ET, and uranium miners Uranium Energy (NYSEMKT: UEC) and Cameco (NYSE: CCJ) falling even harder -- down 7.5% and 16.4%, respectively.
In the case of Plug Power, the good news is that there's no obviously bad news dragging Plug down -- no bad news specific to the stock, that is to say. The stock market does still seem shaken up by JPMorgan Chase CEO Jamie Dimon's warning of an impending 20% drop in stock prices , however, and a recession arriving in no more than "six to nine months."
In contrast, the reasons for Uranium Energy and Cameco going down are pretty clear.
For further details see:
Why Plug, Cameco, and Uranium Energy Stocks Dropped