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USEC: A Top Mover

|Includes:Centrus Energy Corp. (LEU)

After huge weakness following a 1-for-25 reverse stock split, USEC's (USU) prices have risen literally to the sky.

The charts below lead us to believe that there is genuine buyer interest. Nevertheless, with a float of just 4.72M, around 15M shares have been traded in the last five days. It seems too much!

The company has a partnership with the Department of Energy (DOE). Since 2002, USEC has been developing an efficient uranium enrichment gas centrifuge technology called the American Centrifuge. USEC is working to deploy this technology in its American Centrifuge Plant (NYSE:ACP).

One must remember that USEC had been created as a government corporation in order to restructure the government's uranium enrichment operation. The company had an IPO on July 28, 1998.

It seems that shareholders think USEC's problems can be really overtaken.

Let's see what happens to the stock prices this week.

Chart since the IPO

Charts courtesy of StockCharts.com

Last three month chart

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Additional disclosure:

No position in stocks mentioned.

The author of this article gives only his personal view and opinion, never making any investment advice to buy or sell specific securities. The information presented is from sources believed to be reliable, but its accuracy cannot be guaranteed. Before investing in financial assets, investors should do their own research and consult a professional investment adviser.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: LEU