USEC Climbs 98 Percent on Nuclear Stock Upswing

Bloomberg reported that volatile uranium supplier USEC Inc. (NYSE:USU)’s stock price doubled in Monday trading, pushed up by bearish traders opting to cover their positions on the upward momentum of nuclear stocks.

As quoted in the Bloomberg report

USEC jumped 98 percent to $11.98 at 4 p.m. in New York, earlier soaring as much as 161 percent. The increase was helped by a short squeeze and a victory by Prime Minister Shinzo Abe’s Liberal Democratic Party in Japan, according to Ian Winer, director of equity trading at Wedbush Securities Inc.

To view the whole Bloomberg report, click here.