After heading for the skies yesterday , uranium stocks fell back to the ground on Jan. 6 and dropped steeply. After slipping more than 10% each in early-morning trading, here's how the top uranium stocks losers were faring as of 1:20 p.m. ET:
Blame Kazakhstan, yet again.
Uranium stocks surged on Jan. 5 after anti-fuel-price protests in Kazakhstan turned violent. Things spiraled out of control as the country's president resigned, the internet was shut down, and an emergency was declared in some parts of the country. The reason: Fuel prices doubled the very first day of the new year after Kazakhstan's government lifted price controls, triggering mass protests and clashes across the nation. The country hasn't seen anything like this since it gained independence nearly three decades ago.
For further details see:Why Uranium Stocks Sank Today After Exploding Yesterday