Why Uranium Energy Stock Plummeted This Week
Uranium Energy stock saw a rebound later in the week, but it still closed the stretch down double digits.
Overview
Uranium Energy (NYSEMKT: UEC) stock sank this week, ending the period down 12.7% even after seeing significant rebound momentum in Thursday and Friday's sessions. Meanwhile, the S&P 500 and the Nasdaq Composite both ended the week up roughly 0.7%.
On June 9, Uranium Energy published its results for the third quarter of its current fiscal year -- which ended April 30. In addition to the market's negative reaction to the earnings report, the company also saw sell-offs connected to macroeconomic and geopolitical pressures.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.