NEW YORK (TheStreet) -- Uranium Energy (UEC) shares are down 31.29% to $1.66 in morning trading on Friday, just two weeks after the company's shares surged following its sale of 80,000 pounds of finished uranium for $3.08 million.
However, according to an SEC filing the company sold almost its entire inventory in the sale and only has 4,000 pounds of uranium left, according to CNA Finance.
Other companies in the sector are also suffering as uranium spot prices have fallen to about $36, a five year low.
"So these factors indicate that UEC's recent price performance is unsustainable because the fundamentals of the company (more on that below) and the sector have not improved. We expect the stock will collapse as it follows the path set by peers," the news agency said.