Breaking Finance News

Uranium Resources Down 7 Percent on USEC Weakness (URRE)

The recent strength in USEC, Inc (NYSE: USU) has helped stocks like Uranium Resources, Inc (NASDAQ: URRE) move higher. USEC is up more than 300 percent in the past week while Uranium Resources is up 72 percent. But as they move up together, they also move down in tandem. In pre-market trading Uranium Resources is down nearly 7 percent–about the same as USEC.

USEC’s weakness is likely in response to a Seeking Alpha article that said USEC is not much more than a political pet-project company as its only source of revenue is now a centrifuge project 80 percent funded by the U.S. government that has little chance of becoming a usable technology.

There is no attributable news to Uranium Resources Tuesday morning making it a reasonable assumption that the stock is continuing to trade in tandem with USEC.

[stock-tools exchange="NASDAQ" symbol="URRE" 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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