Uranium Energy Corp. (UEC) saw a significant drop in share prices, losing 8.96% on Tuesday to close at $9.65 per share as investors took profits following a previous rally. The company received US government backing for its Sweetwater Uranium Complex, supporting President Trump’s executive order to increase American mineral production.

President and CEO Amir Adnani stated that Sweetwater will be UEC’s third production platform, following operational advancements in Wyoming and South Texas. The facility will be the largest dual-feed uranium facility in the US, offering flexibility to scale production and leverage UEC’s domestic resource base.

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Read more at Yahoo Finance: Uranium Energy (UEC) Drops as Traders Cash in on Gains