USEC Shares Double On Suspicious Trading Activity

Joe Goldman |

Shares of USEC Inc. (USU) , a leading supplier of uranium-enriched fuel processed for use in nuclear power plants, have been subjected to highly unusual and suspicious trading activity over the last week on no major announcements.                         

With USEC trading on over 20 times normal volume for no reason, the company is raising eyebrows on Wall Street. Shares spiked 98 percent on Monday and have almost quadrupled since July 12. The stock reached as high $15 during afternoon trading on Monday, closing at $11.98.

Although the company acknowledged the unusual trading activity via a press release, it provided no hints at the reasoning behind the trading action. “The company stated that its policy is not to comment on unusual market activity,” read the statement.

Twitter speculated Monday afternoon that the company could be on the verge of a buyout or is simply the subject of a good old-fashioned short squeeze amid broad gains in uranium stocks. Both of these ideas, however, are pure conjecture at this point in time.

USEC recently company announced that its “Megatons to Megawatts” program, which aims to downblend 475 metric tons of weapons-grade uranium into fuel for nuclear power plants, was 95 percent complete as of June 24. The company also executed a 1-25 stock split on July 1. However, these events don't seem to be related to the unusual stock activity.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
BMBM Bmb Munai Inc 0.00 0.00 0.00 0

Comments

Emerging Growth

H-Source Holdings Ltd.

H-Source Holdings Inc. is a technology company operating within the healthcare industry through its subsidiary, H-Source, Inc. The Company has developed a transaction platform that provides a private, secure and…

Private Markets

Ozobot by Evollve Inc

Ozobot is a world leader in compact super intelligent robots that entertain and educate through fun interactive gaming.

MyForce, Inc.

As parents, we constantly worry about the safety of our loved ones. The media bombards us with incidents from across the nation school shootings, frequent assaults on campuses, and crimes…