Energy Fuels (UUUU) Sheds 8.5% on Profit-Taking After 3-Month High

Core Insights - Energy Fuels Inc. (NYSEAmerican:UUUU) experienced a significant drop in share prices by 8.51% to close at $23.33 after reaching a three-month high, as investors engaged in profit-taking [1][4] - The company had previously rallied by 5.7% to a peak of $26.96, just $0.37 below its 52-week high of $27.33, before losing momentum [2] - Energy Fuels recently acquired Australian Strategic Materials Ltd. for $299 million, aiming to establish a leading position in the rare earth elements (REE) market outside of China [3][4] Company Performance - The share price decline of Energy Fuels on Monday was attributed to profit-taking after a period of strong performance [1][4] - The stock had reached a three-month high, indicating strong investor interest prior to the drop [1] Strategic Acquisition - The acquisition of Australian Strategic Materials Ltd. is part of Energy Fuels' strategy to create a fully integrated REE production operation, addressing supply gaps in various high-tech applications [3][4] - The CEO highlighted the potential for expanding REE product offerings by leveraging existing production capabilities in the U.S. and the Australian firm's resources [4]