Electricity demands are surging, and so could this nuclear energy stock
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A few weeks ago, I mentioned Generac (GNRC) was on my watchlist as we entered the height of hurricane season.
If you didn’t know, Generac sells backup generators to those who need power after storms roll through.
And since several new storm systems were swirling around the Atlantic this month, I believed a bounce in the stock was imminent.
This week we got that bounce.
As you’ll see in the chart above, GNRC started making its move around September 16 before making a move on Sept. 23.
We were positioned in The War Room, and yesterday closed for a 19% gain in less than 1 trading day.
Here’s what a few War Room Members had to say about the trade…
That’s the power of trading trends like GNRC every year. They give you the ability to smart speculate as a trader.
If you missed out on this trade, don’t worry. I have another watchlist pick for this week to potentially profit on another trend.
The stock is Cameco (CCJ) – the world’s largest publicly traded uranium company.
Cameco’s stock shot up last week after reports that Constellation Energy was restarting the Three Mile Island nuclear plant. The goal of the restart is to use nuclear energy to power AI infrastructure demand for big tech companies like Microsoft.
This is a potential huge development for nuclear.
In fact, energy demand from data centers is expected to surge in the coming decades as the tech sector ramps up AI.
While estimates vary, Goldman Sachs is forecasting data centers will consume 8% of total U.S. electricity demand by 2030, compared to 3% today.
Action Plan: With the restart of Three Mile Island, nuclear energy has strong potential in the short and long-term. That’s why I’ll be looking to do a spread trade in Cameco (CCJ) on a pullback in The War Room.
