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BTC hits $50k, GameStop wobbles, and Cameco jumps 7.4%

By John Shepard

09:00, 17 February 2021

Cameco

Uranium stock Cameco Corp (CCO) soared 7.4 per cent on Tuesday as markets opened following a US holiday.

We wrote about Cameco and uranium stocks on Monday, which had seen interest from investor Michael Burry, who is fresh from a $270m score in GameStop (GME).

Investors are eyeing the sector after the price of uranium increased over 20 per cent in the last year. Analysts are saying there is room to run in the commodity as governments pursue a clean energy agenda and turn to nuclear power.

GameStop surrendered 5 per cent as the stock wobbled ahead of the government testimony regarding the short squeeze. The stock had been holding the $50 level last week but has slipped lower to $49.50. Traders are likely fearing regulation from the hearing but the stock could rally if this doesn’t happen.

BTC/USD

76,578.40 Price
+0.680% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

US100

21,129.20 Price
+0.100% 1D Chg, %
Long position overnight fee -0.0248%
Short position overnight fee 0.0026%
Overnight fee time 22:00 (UTC)
Spread 1.8

Gold

2,684.37 Price
-0.840% 1D Chg, %
Long position overnight fee -0.0170%
Short position overnight fee 0.0088%
Overnight fee time 22:00 (UTC)
Spread 0.30

XRP/USD

0.55 Price
-1.470% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.01168

Bitcoin blasts through $50,000 level

Bitcoin (BTC) is trading at $50,508 after the coin surged through the key technical level. Bitcoin has benefited from the attention of big corporations, who wish to hold the coin on their balance sheet.

A study by Gartner has shown that 5 per cent of companies are interested in adding BTC to their books. “Follow the leader” is a common business strategy and Elon Musk’s Tesla has given the green light for corporations to raise the topic in boardrooms.

Markets in this article

BTC/USD
Bitcoin / USD
76578.40 USD
514.45 +0.680%
CCOca
Cameco
73.19 USD
-1.2 -1.620%
CCOca
Cameco
73.19 USD
-1.2 -1.620%
GME
GameStop Corp (Extended Hours)
24.93 USD
1.54 +6.620%
GME
GameStop Corp (Extended Hours)
24.93 USD
1.54 +6.620%

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