Why These Energy Stocks are Losing This Week

3. enCore Energy Corp. (NASDAQ:EU)

Share Price Decline Between July 22 – July 29: 8.28%

enCore Energy Corp. (NASDAQ:EU) engages in the acquisition, exploration, and development of uranium resource properties in the United States.

enCore Energy Corp. (NASDAQ:EU) soared by over 22% earlier this month following an announcement by the Department of Energy to fast-track the development of advanced nuclear reactors and strengthen domestic supply chains for uranium. So the recent decline in share price could be due to profit-taking by investors.

Moreover, uranium futures in the US also surged by over 13% last month due to high demand. However, the price of nuclear fuel has now fallen by almost 10% over the last month, leading to a downturn in uranium stocks.

enCore Energy Corp. (NASDAQ:EU) recently announced a significant leadership change, with Mr. Dain McCoig promoted from Senior Vice-President to Chief Operating Officer. Under his guidance, the company has more than doubled its uranium extraction rates and improved operational efficiency, positioning itself as a strong contender in the American nuclear fuel industry.