Energy Fuels (UUUU) stock soared 5.95% in pre-market trading on Wednesday, as nuclear energy stocks received a significant boost from the U.S. Army's ambitious plans to deploy small nuclear reactors on military bases. The surge also coincides with increased social media attention on the stock.
The U.S. Army unveiled its Janus Program, aiming to supply bases with microreactors by 2028. These small-scale nuclear reactors, generating less than 20 megawatts of electricity, are designed to ensure uninterrupted power supply for critical base operations and weapons systems. This initiative represents one of the military's most significant pushes into modern nuclear power, potentially opening up new opportunities for companies in the nuclear energy sector.
Adding to the momentum, Energy Fuels has been identified as one of the most-discussed stocks on the popular Reddit subforum Wallstreetbets. The increased social media buzz, combined with the positive industry news, has contributed to the stock's pre-market rally. Investors appear to be optimistic about the potential benefits that Energy Fuels and other nuclear energy companies could reap from the growing interest in nuclear power solutions for both military and civilian applications.