Uranium exchange-traded funds (ETFs) took a beating on Thursday despite news that more countries are considering nuclear energy to meet environmental goals. The latest country to commit to nuclear energy is France, which intends to fast-track adoption of nuclear power plants and electric vehicles (EV). These moves are part of the country’s goal to reduce its reliance on fossil fuels by 2035.
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There’s been a growing push for nuclear energy recently, as the environmental effects of fossil fuels remain a chief concern among regulators around the world. In the U.S., this has resulted in several states considering adoption of nuclear energy.
However, there are still major hurdles that have to be overcome before nuclear energy or EVs achieve widespread adoption. Part of that is getting the general populace on board. While nuclear energy isn’t viewed as negatively now as it was in the past, there is still some resistance to its use. On that same note, EV adoption has slowed as automakers have shifted their focus back to traditional combustion engines.
Uranium ETFs Sink on Thursday
- Global X Uranium ETF (URA) stock was down 2.38% on Thursday.
- NorthShore Global Uranium Mining ETF (URNM) stock dropped 3.16% today.
- Sprott Junior Uranium Miners ETF (URNJ) stock fell 3.49% as of this writing.
- VanEck Uranium + Nuclear Energy ETF (NLR) stock slipped 2.1% today.
Which Uranium ETF Is the Best Bet?
Turning to the TipRanks ETF comparison tool, traders can find additional insights on Uranium ETFs. Looking over this data, investors will see that URA has experienced the greatest growth over the past 12 months at 89.7%, followed by URNM at 81.88%, URNJ at 76.66%, and NLR at 61.62%.
