Why Cameco Stock Rocketed Nearly 11% Higher Today

Group 1 - Cameco's stock surged nearly 11% due to U.S. plans to increase its strategic uranium stockpile and a new supply deal with a European company [1][3] - U.S. Energy Secretary Chris Wright emphasized the goals of boosting confidence in the nuclear industry and reducing dependence on Russian uranium supplies, which account for approximately 25% of U.S. needs [2] - The long-term uranium supply deal with Slovakia's Slovenské elektrárne will last through 2036, although financial details remain confidential [3][4] Group 2 - The U.S. aims for rapid growth in uranium consumption from both large and small modular reactors, indicating a need for increased domestic uranium and enrichment capacity [3] - The stock's rise significantly outperformed the S&P 500 index, which only increased by 0.5% [1]