Understanding the Market | CGN MINING Falls Over 8% AI Drives Tech Giants into Nuclear Power Sector US Nuclear Power Industry Awaits Election Results
CGN MINING fell more than 8%, as of the time of publication, it dropped by 8.26% to HKD 2, with a turnover of HKD 256 million. On the news front, on October 16th, Amazon announced that the company has signed three nuclear reactor development agreements, becoming the latest large technology company seeking new energy to meet the growing power needs of data centers; Google signed a power purchase agreement with California nuclear energy startup Kairos Power; Microsoft reached a similar purchase agreement with energy company Constellation and restarted some equipment at the Three Mile Island nuclear power plant in Pennsylvania. BOC International maintains a "buy" rating on CGN MINING. Positive market views on US nuclear power demand may strengthen its supply-demand fundamentals. The bank believes that US nuclear industry owners are still waiting for the election results before deciding on future development progress. The Republican Party is generally considered more supportive of nuclear power, which may accelerate approvals, especially environmental approvals, making the market more optimistic about nuclear power and uranium. With only two weeks left until the election, the bank advises investors to refocus on the uranium sector and prepare for event-driven trades
According to the Wise Finance APP, CGN MINING (01164) is currently down more than 8%, as of the time of publication, it has fallen by 8.26% to HKD 2, with a turnover of HKD 256 million.
On the news front, on October 16th, Amazon announced that the company has signed three nuclear reactor development agreements, becoming the latest major tech company seeking new energy sources to meet the growing power needs of data centers; Google has signed a power purchase agreement with California nuclear startup Kairos Power; Microsoft has reached a similar purchase agreement with energy company Constellation and restarted some equipment at the Three Mile Island nuclear power plant in Pennsylvania.
BOCI Research maintains a "buy" rating on CGN MINING. The positive market outlook for U.S. nuclear power demand may strengthen its supply-demand fundamentals. The bank believes that U.S. nuclear power plant owners are still waiting for the election results before deciding on future development progress. The Republican Party is generally considered more supportive of nuclear power and may accelerate approvals, especially environmental approvals, making the market more optimistic about nuclear power and uranium. With only two weeks left until the election, the bank advises investors to refocus on the uranium sector and prepare for event-driven trades
