Overnight it appears that a hedge fund known as Weiss Multi-Strategy Advisers LLC have started liquidating their position in many uranium stocks after they made a decision to close their operations after 46 years.
The heavy selling, which included over $16 mil worth of Nexgen on Friday alone, as well as Cameco and other U stocks, caused a cascade of stop loss selling.
In summary, what is clear is that an ''anonymous'' broker heavily sold down their positions in uranium stocks, but what's not clear is that it was the aforementioned Weiss. But when one considers their known holdings of the very stocks sold as well as their stated position of winding down their fund it's a reasonable guess to assume it was them.
No fundamentals in the sector changed whatsoever.
Uranium price started to Boom, page-4918
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Last
5.8¢ |
Change
0.003(5.45%) |
Mkt cap ! $222.4M | |||
| Open | High | Low | Value | Volume |
| 5.6¢ | 5.8¢ | 5.6¢ | $126.1K | 2.223M |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 27 | 1337278 | 5.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.8¢ | 1028287 | 15 |
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| Last trade - 15.01pm 07/06/2024 (20 minute delay) ? |
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Last
5.8¢ |
Change
0.003 ( 2.68 %) |
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| Open | High | Low | Volume | ||
| 5.6¢ | 5.8¢ | 5.6¢ | 2248519 | ||
| Last updated 15.27pm 07/06/2024 ? | |||||
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