Why Energy Fuels Stock Rocketed 20% Higher Today
Uranium miner Energy Fuels (NYSEMKT: UUUU) received a major boost to its stock on Friday from one of the most powerful market movers lately -- President Donald Trump.On news that Trump signed a set of executive orders hastening the development of the nuclear energy industry, a clutch of sector stocks rose dramatically. Since uranium is the fuel of choice for nuclear power generation, Energy Fuels stock was swept up in the rally and closed Friday 20% higher. That was miles ahead of the S&P 500 index, which landed in the red with a 0.4% drop.Demand for power in the U.S. is rising steeply, not least because of the resource-heavy requirements of artificial intelligence (AI). Addressing this need is a priority for the president's administration, as strongly evidenced by his declaring an energy emergency on the first day of his current term in office. Continue reading
Uranium miner Energy Fuels (NYSEMKT: UUUU) received a major boost to its stock on Friday from one of the most powerful market movers lately -- President Donald Trump.
On news that Trump signed a set of executive orders hastening the development of the nuclear energy industry, a clutch of sector stocks rose dramatically. Since uranium is the fuel of choice for nuclear power generation, Energy Fuels stock was swept up in the rally and closed Friday 20% higher. That was miles ahead of the S&P 500 index, which landed in the red with a 0.4% drop.
Demand for power in the U.S. is rising steeply, not least because of the resource-heavy requirements of artificial intelligence (AI). Addressing this need is a priority for the president's administration, as strongly evidenced by his declaring an energy emergency on the first day of his current term in office.
