Why These Energy Stocks are Losing This Week

6. Uranium Energy Corp. (NYSE:UEC)

Share Price Decline Between Feb. 14 – Feb. 24: 12.36%

Uranium Energy Corp. (NYSE:UEC) is the fastest-growing North American uranium supplier, fueling the growing demand for carbon-free nuclear energy.

Nuclear energy stocks have lost momentum over the last few months and a major reason for that is the decline in the prices of uranium. After hitting a high in February 2024, prices fell significantly to the $60 range in December. Moreover, uranium stocks like UEC also fell after Chinese AI start-up DeepSeek revealed its highly efficient model developed at only a fraction of the cost of other more popular AI. This implies that Western companies have been investing in way more chips than they need to so no one is going to need huge amounts of nuclear power for all these chips.