There has been considerable hype about Uranium Energy Corp (NYSEAMERICAN:UEC) for quite some time but that did not translate into any major gains for its stock. However, last Friday the stock seemed to have come into focus among investors in a big way and ended the day with gains of as much as 10%.
That being said, it is also necessary to note that the Uranium Energy stock has had such rallies in the past but eventually the stock gave up most of its gains and went lower. Investors might be wonder if it might be different this time around.
The biggest trigger for the Uranium Energy Corp stock was the green initiatives that had been announced by the Joe Biden administrations not too long ago. That saw the stock going on a massive rally from October 2020 to March 2021, during the course of which it delivered gains of as much as 350%.
Those gains however evaporated eventually and at this point in time, the stock is only up by 20% in 2021 so far. It now remains to be seen if the Uranium Energy stock can hold on to its gains today or add to them.