Why Uranium Stocks Are on Fire Today

·3 min read
Why Uranium Stocks Are on Fire Today

Uranium stocks were unstoppable until last month when the world's first and largest physical uranium exchange-traded fund, Sprott Physical Uranium Trust (OTC: SRUU.F), seemingly slowed its pace of uranium purchased from the spot market after an unstoppable spree since its inception on Canada's Toronto Stock Exchange in July. Aggressive purchases by the fund had sent uranium prices soaring. Monday morning, the world's largest uranium producing and marketing company, Kazatomprom, announced it will invest in ANU Energy, a new physical uranium fund to be established in Kazakhstan on the Astana International Financial Centre.

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