Uranium Energy tumbles after Kerrisdale Capital reveals short position

Uranium Energy

23/03/2023 15:15

(Updates)
    ** Shares of Uranium Energy Corp  UEC.N  down 11.9% at $2.81
        ** Stock hits lowest in more than a year
  
    ** Short-seller Kerrisdale Capital says it is short on UEC,
calls the uranium miner "radioactive"
    ** Kerrisdale says UEC acquires "uneconomic" uranium assets
to trick retail investors into thinking it is a legitimate miner
    ** None of UEC's stated 140 mln pounds of estimated
resources in the U.S. can be mined profitably at current uranium
prices - Kerrisdale
    ** Reuters could not verify the claims raised in the report
        ** About 13% of Uranium Energy's free float was shorted
as of March 22, according to data from Ortex
  
    ** Including session losses, stock down 27.6% YTD

 (Reporting by Arshreet Singh and Sourasis Bose in Bengaluru)