The army of short sellers targeting uranium stocks was scrambling to cover its positions on Friday following reports that US President Donald Trump was about to sign executive orders that aimed to jumpstart the nuclear energy industry as soon as Friday (Saturday AEST).
The orders are set to ease the regulatory process for the approval of new reactors and strengthen fuel supply chains, Reuters reported. Trump is also expected to invoke Cold War-era legislation to declare a national emergency over America’s dependence on Russia and China for enriched uranium.
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Gus McCubbing is a markets reporter in the Melbourne newsroom. He was previously the Australian Financial Review’s Victorian political correspondent. Connect with Gus on Twitter. Email Gus at gus.mccubbing@afr.com
