Cameco Trades Near $85. Here's Why the Uranium Giant Might Be the Safest Way to Play the Nuclear Comeback
Cameco's stock has fallen from $134 to $85, but that drop could be an opportunity for investors looking to invest in nuclear power.
Overview
Nuclear power is experiencing something of a renaissance, as massive demand for electricity is outstripping the world's ability to produce it. Clean energy just won't be enough; an all-of-the-above strategy is the most likely winner. And that means more nuclear power, which puts Cameco (NYSE: CCJ) in a prime position to benefit. But this is a long-term opportunity, not a short-term trade. Here's why Cameco trading around $85 per share could be the safest way to play the nuclear comeback.
Over the past year, Cameco's stock has been as high as $134 and as low as, well, roughly $85. In fact, the stock has basically taken a round trip, rising from around its current levels 12 months ago and then returning. What happened in between was that investors got super excited about nuclear power before moving on to other investment ideas. That's how Wall Street works sometimes, with investors hopping from big idea to big idea.
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Originally published at www.fool.com.