Stock Track | Cameco Plummets 5.04% Intraday as Profit-Taking Follows Record High on Nuclear Deal

Stock Track04-21

Cameco's stock plummeted 5.04% during intraday trading on Tuesday, marking a significant pullback in the uranium producer's share price.

The decline appears to be driven by profit-taking activity after the stock surged to an all-time high in the previous session. That rally was triggered by news that Cameco's subsidiary, Westinghouse Electric, secured an agreement with the U.S. government to build at least $80 billion worth of new nuclear reactors.

After such a substantial single-day advance that added over CAD 12 billion to Cameco's market capitalization, the current session's retreat reflects typical market consolidation following a major catalyst-driven price movement.

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