Shares of nuclear fuel supplier Centrus (LEU) surged 5.04% in the pre-market session on Wednesday, joining the rally in nuclear energy stocks. The pre-market rise 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.
The nuclear energy sector broadly rallied overnight, with stocks like Oklo Inc. (OKLO) climbing 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 industry under the new energy secretary's agenda.
For Centrus, a key supplier of enriched uranium fuel for commercial nuclear power plants, the prospect of a renewed policy focus on nuclear energy bodes well for its growth prospects. The company stands to benefit from heightened demand for nuclear fuel as the sector potentially expands under favorable policy conditions.
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