Breaking Finance News

BREAKING- USEC Down Another 11 Percent Wednesday

Shares of USEC, Inc (NYSE: USU) are down another 11 percent in early trading Wednesday. A Seeking Alpha article published Monday evening triggered large-scale selling on Tuesday. Today’s move appears to be follow-through profit taking on a stock that was up more than 300 percent in one week.

The Street published a piece Tuesday titled, “USEC Is on Fire.” It highlights the recent run up in the stock yet points out that the company hasn’t turned a profit since 2010 and has a debt load of $350 million. It goes on to say that while the recent move higher is exciting, for those who have held the stock for a longer period of time, it represents, “a small recoup of some big losses.”

[stock-tools exchange="NYSE" symbol="USU" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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