Uranium Energy (UEC) Falls, Mirrors Sector, Broader Market Decline
Uranium Energy fell for a third day on Wednesday, dropping 6.33 percent to close at $5.92 apiece, mirroring the 0.95-percent drop in the uranium sector and the broader decline in the energy industry.
During the session, investors appeared to have unloaded positions due to the lack of fresh leads to boost buying appetite.
In recent news, Uranium Energy Corp. (NYSEAmerican:UEC) boosted its stake in Anfield Energy Inc. to 32.4 percent following the acquisition of 170 million common shares for CA$19.5 million through a private placement.
'The Anfield shares were acquired by the company for investment purposes,' Uranium Energy Corp. (NYSEAmerican:UEC) said, adding that it will continue to monitor the business, prospects, financial condition, and potential capital requirements of Anfield.
A mining worker in a hard hat and coveralls hammering away at the uranium rich walls of the mine.
'Depending on its evaluation of these and other factors, the company may from time to time in the future decrease or increase, directly or indirectly, its ownership, control or direction over securities of Anfield through market transactions, private agreements, [and] subscriptions from treasury,' among others, Uranium Energy Corp. (NYSEAmerican:UEC) said.
While we acknowledge the potential of UEC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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