Why Cameco, Denison Mines, and Energy Fuels Stocks All Popped on Wednesday

Uranium mining stocks surged higher on Wednesday, with industry bellwether Cameco (NYSE: CCJ) rising 8.2% through 2:11 p.m. ET, Denison Mines (NYSEMKT: DNN) doing even better with a 14.7% gain, and smaller Energy Fuels (NYSEMKT: UUUU) performing best of all -- up 17%.Investors are betting on a resurgence in demand for nuclear energy, and their optimism is not without reason as tech giants like Microsoft (NASDAQ: MSFT), Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), and Amazon.com (NASDAQ: AMZN) are placing multibillion-dollar bets on the sector.Last month, Microsoft ignited the rally in nuclear stocks when it signed a power purchase agreement with Constellation Energy (NASDAQ: CEG) under which the latter will reopen Unit 1 of its Three Mile Island nuclear power plant. Microsoft needs extra power to run the servers at its Azure business unit, and thinks nuclear might be the best way to produce that power in a carbon-free way.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool