RE: RE: That's Me In...BAD NEWS!Here's what happened to the stock value of IB and probably most other Nuclear related stocks. Remember, people associated uraniam with nuclear, and most don't know about Beryllium. Even if they did, it still falls into the FALLOUT - JAPAN nightmare category as far as they are concerned.
The tables have turned on uranium.
In the wake of Japan’s ongoing nuclear crisis, spot uranium prices plunged almost 30%. Industry giants like Canada’s Cameco Corp (NYSE:CCJ) tanked more than 25% in the span of just a few days. Smalleruranium stocks traded in Toronto have crashed more than 35%.
Nuclear powerwill survive this travesty, but at this point popular support hasdisappeared. Public sentiment has grown markedly against nuclearenergy, and governments everywhere are slowing large-scale plannedprojects.
Last year, Germany, which receives 23% of its electric power from nuclear reactors, extended the life of 17 nuclear power plantsby 12 years. In the wake of Japan’s crisis, however, Germany’sgovernment decided to shut down seven of the oldest reactors in thecountry.
Switzerlandand the United States are also delaying projects until nuclearregulatory agencies have a chance to revisit safety standards atexisting plants.
What’s bad for nuclear power demand will be bullish for distressed fossil fuels like coal and natural gas.