Centrus Stock Declines 10% on TENEX Update: What Does it Mean for Investors?

Shares of Centrus Energy Corp. (LEU) fell 10% yesterday after it announced that its main supplier TENEX’s export license has been rescinded as Russia has banned the export of low-enriched uranium to the United States or U.S.-registered entities. Per the current mandate, TENEX has to obtain a specific export license to ship low-enriched uranium to Centrus. If it fails, Centrus may face challenges in fulfilling its delivery commitments to customers, which could affect its results.The Centrus Energy stock clos ...