SMR - Why Shares of Cameco NuScale Power and Energy Fuels Are Powering Higher Today
2024-07-10 15:06:29 ET
When new legislation makes its way to the president's desk, investors often sit up and take notice. And that's exactly what's happening today with respect to nuclear power stocks Cameco (NYSE: CCJ) , NuScale Power (NYSE: SMR) , and Energy Fuels (NYSEMKT: UUUU) . These stocks are all flying higher after the market learned that President Biden signed a bill yesterday that encourages growth in nuclear power.
As of 12:01 p.m. ET, shares of Cameco are up 9.2%, while NuScale Power and Energy Fuels are up 6.1% and 7.4%, respectively.
Addressing numerous issues regarding nuclear energy in the United States, the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act aims to make the development of innovative nuclear energy assets more financially attractive in a variety of ways. For example, the ADVANCE Act will lower the regulatory costs for businesses interested in licensing advanced nuclear reactor technologies and provide a financial incentive for companies that deploy next-generation nuclear reactor technologies.
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Why Shares of Cameco, NuScale Power, and Energy Fuels Are Powering Higher Today