Centrus (LEU) stock soared 5% in the pre-market trading session on Wednesday, joining the rally in nuclear energy stocks. The surge came after President Donald Trump announced his pick of Chris Wright for energy secretary, who has vowed to prioritize the production of nuclear power and liquefied natural gas as part of his plan to boost U.S. energy output.
Other nuclear energy stocks that climbed overnight included Oklo Inc. (OKLO) rising 8.8%, NuScale Power (SMR) up 3.1%, and Energy Fuels (UUUU) gaining 2.2%. Investors cheered Wright's pro-nuclear stance, betting on increased government support and investment in the nuclear energy sector.
The rally in nuclear stocks like Centrus reflects investor optimism over the potential growth prospects for the nuclear power industry under the new energy secretary's agenda. However, the extent of the impact on individual companies will depend on their specific business models and positioning within the nuclear energy value chain.
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