The market is telling you
For 6 years now the market has proven the uranium bulls to be wrong. The first month of 2021 continues that determination with a vengeance.
FCU had a dismal week. So did Cameco. And the Spot Price showed slippage.
The pain for uranium hopefuls continues and there are no signs that things will change for many months.
Now you can always look to Quakes for excuses and hope but the fact is this. He has been wrong for 6 years and his record will not improve this year. He is one huge dreamer who has sucked in thousands of followers with convincing numbers, graphs and predictions. All those disciples have become so enthralled, they believe their own hype and fail to see what the market is telling them.
There is no uranium shortage. Utilities have lots on hand. The secondary market has been successfully meeting all other requirements. You can argue that the spot price and futures market are wrong.......but the fact is, they reflect the truth.....not wishful thinking.
Global X decided to downsize its FCU holdings and managed to have dreadful timing. Hence FCU really got smacked this week.
Uranium believers continue to live on hope. Too bad the market doesn't operate that way.