RE: GlenfarclasProbably thinks it's gonna fill that gap from early 2006. That is within the realm of possibility, but by no means a certainty. If the share price here doesn't overtake $2 by end of week, then gravity and gap magnetism could take over.
Could just be that a large shareholder has decided to liquidate, and not enough buyers to pick up the slack. If you knew everything that was going on behind the scenes, the drop would probably make a lot more sense. GE is looking to lock in uranium supply for years to come, and I wouldn't be surprised if a deal with GE is announced. Just speculation on my part. However, one possible explanation for whatever naked shorting helped this decline is that somebody is working a deal with this company that includes share options or warrants. Could be that GE is doing something nefarious through a broker to improve their standing on a deal with URE. Could also be that URZ is the beneficiary, and moving on the whisper. Nobody knows, but I'll throw out some ideas. Perhaps related to the move to list in US?
Basically the sector is weak, and URE has been underperforming most in its class. I think it's probably a buying opportunity, but you'll need to be willing to average down and bide your time if you go that route. I see somebody bidding 82 right now for UX dec futures, so the 75 is just spot price. The spot market has been weak. More concerned about the stock market, which was terribly weak today.