GREY:UEXCF - Post by User
Comment by
mangoeon Sep 22, 2021 3:40pm
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Post# 33899765
RE:Sprott spot down
RE:Sprott spot downI don't know where people get this idea that Sprott should be buying uranium everyday to drive up the uranium spot price, and if they don't buy any significant uranium in a day or 2 to move the uranium spot price , the uranium bull is over.
Some of them are the same folks that complain that uranium stocks were to expensive, and when the stocks pull back in this profit taking correction and the stock price start to trade sideways for a day or 2 and did not snap back on the upside uh! the uranium bull is over.
Because the uranium spot price bolted out ofthe gate all the way from $29+ to $50.00 per lb, a correction or pull back in the uranium spot price is not a bad thing. If the uranium stocks can take a dip, why not the uranium spot price. Some will argrue it is good for the sector.
I was never in the camp that uranium stocks were too expensive and overpriced, I am in the camp that they are lagging behind a hot uranium spot price that we have not seen at $50.00 per lb for a long time, which means uranium stocks were dirt cheap before the correction and they are even more cheaper with this correction.