"Yes, I’m half hoping for a sharp V bounce recovery."Could be...

"Yes, I’m half hoping for a sharp V bounce recovery."

Could be the case. It was stable in North America overnight. I still haven't seen anything to justify a 10%+ drop for ASX-listed uranium stocks yesterday. Maybe the market needed a bit more time to digest the implications of Cameco's results. I find it hard to believe they'll meet their production targets for 2024, and even if they do I don't think it impacts the investment thesis behind uranium. But how the market reacts in short-term timeframes is another topic altogether.

It's getting volatile and yesterday's sell-off created uncertainty and killed the momentum in the rally I reckon. Uranium stocks might need to consolidate in time for a bit longer now. Shame, as technically they were looking great for another move north. Let's see what next week has to offer but we're now back to the spot price acting as catalyst imo, as opposed to Kazatomprom's and Cameco's production and guidance. The spot price jumped by $3 to $103 overnight so we're off to a good start.