Connect with us

Hi, what are you looking for?

Jewish Business News

Money

Billionaire Steven Cohen Invests in World’s Most Hated Commodity

 

Steven Cohen 640x360

 

Billionaire Steve Cohen is investing in the “world’s most hated commodity”–uranium. Motley Fool’s Robert Baillieul thinks that he might be on to something. Uranium has been a dirty word for a long time, and a dangerous word since Japan’s horrific Fukushima nuclear disaster in 2011. Prices for uranium had been plunging prior to the catastrophe, as prices fell as low as $40 per pound between 2007 and 2010.

But all that might change, as interest in nuclear power plants renews. Even Japan wants to restart old plants, China plans to build 50 by 2020 and Europe’s boycott of Russia has hurt its natural gas supplies. Meanwhile, uranium producers have simply stopped producing, and supplies have dwindled.

Steve Cohen is buying Cameco, which Baillieul calls “the ExxonMobil of uranium.” Currently Cohen owns 1.6 million shares for a total investment of $27.7 million. Cohen also paid $21-$23 per share, which is not a low price for the stock. Clearly, he has conviction in uranium.

 

3 Comments

3 Comments

  1. Rick_Maynard

    December 2, 2014 at 7:35 pm

    This is not the billionaire Steve Cohen in this picture. This is Congressman Steve Cohen from Memphis. They are not the same person.

    • sima

      December 2, 2014 at 7:55 pm

      You are right. THANKS !

  2. Rick_Maynard

    December 2, 2014 at 7:40 pm

    Thank you.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

empty

The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

Business

Now Platika joins and elite club of $10 billion plus Israeli firms.

Advertisement