https://www.theglobeandmail.com/
A speculative rally fuelled by Reddit is juicing the price of uranium and investments with exposure to the commodity, leaving investors and companies alike wondering how long the run will last.
The Sprott Physical Uranium Trust, an exchange-traded investment that tracks the price of uranium, rose by 15.5 per cent on Monday on the Toronto Stock Exchange. Shares of uranium miner Cameco Corp., which have rallied 55 per cent since late August, ended the day flat after being up by 8 per cent at one point. Another producer, Denison Mines Corp., rose by 3 per cent on the New York Stock Exchange.
This year, retail traders on the social-media and chat-forum site Reddit have muscled traditional market-moving institutional investors out of the way, and driven up the share prices of companies such as Gamestop Corp. and Blackberry Ltd. to levels far above what analysts considered fair value.
On a number of occasions, the share prices of companies have fallen back to Earth quickly after investors moved on to other sectors. Online speculators have also targeted the mining sector, with silver getting a huge boost in January owing to a similar Reddit-inspired rally.
For the rest of this article: https://www.theglobeandmail.com/business/article-reddit-squeeze-goes-nuclear-boosting-uranium-related-investments/