July 01, 2014

USEC Stock More Than Doubles, $2.5M in Additional Funds Approved

By ExchangeMonitor

USEC’s stock share price more than doubled yesterday–it stood at $3.05 at yesterday’s open and closed at $7.39, an increase of 144 percent. Last Friday USEC said that it received an additional $2.5 million in funding from the Department of Energy, which will fund until July 11 the current American Centrifuge program that is being managed out of Oak Ridge under a subcontract to USEC. It is also awaiting Congressional approval of an additional $30 million in reprogrammed funds requested by DOE, which would fund the program for the remainder of the fiscal year.

USEC yesterday issued a statement on the rapid rise of its stock: “In view of the unusual market activity in the company’s stock today, the New York Stock Exchange contacted the company in accordance with its usual practice. The company stated that its policy is not to comment on unusual market activity.”

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