89 days ago • Posted by Charles-Henry Monchau
Uranium stocks soared on : Is this the beginning of the next ESG craze?
Uranium stocks soared on Friday after House and Senate lawmakers revealed a compromise version of the annual National Defense Authorization Act. According to S&P Global, the bill effectively provides for the military to continue a policy under President-elect Joe Biden that classifies the domestic supplies of certain minerals such as uranium, graphite and lithium as vital to national security. Uranium companies such as Cameco rose 9.7%, Uranium Energy +10%, Energy Fuels +17%, North Short GLobal Uranium Mining +6%. Even ahead of Friday's NDAA announcement, the URA Uranium ETF was breaking out of an elongated bear market. Additionally, the sector could be seen as a ESG play and thus attract some of the massive flows which are moving into ESG ETFS. Source: www.zerohedge.com