Nuclear energy demand is increasing in 2024 – and that’s not going away anytime soon.

In fact, a recent development just boosted the entire sector’s potential.

On July 10, U.S. President Joe Biden signed the ADVANCE Act into law. The ADVANCE Act is a bipartisan bill aimed at bolstering the nuclear power sector.

This bill speeds up the licensing process for new nuclear reactors and reduces associated fees.

It also mandates the Nuclear Regulatory Commission simplifies and shorten environmental reviews. Thus fast tracking the ability to create new nuclear reactors to meet the demand.

The benefits of nuclear energy are second to none. It’s cheaper, has almost zero carbon emissions, and countries can build the power plants on their own soil.

Of course, there’s no denying some risks involved. Everyone remembers Three Mile Island and Fukushima and the horrifying effects of nuclear waste leaking and killing a lot of people.

But if done properly – nuclear power is definitely what you’re going to be using in the future.

And one company I’ve been watching closely in this sector is Cameco (CCJ).

Why Cameco is on my radar

Cameco (CCJ) is the largest pre-soviet producer of uranium, and uranium is the primary energy source nuclear power plants use for fuel.

I first recommended Cameco In the War Room more than 2 years ago and I’ve traded it many times since. Now two years later, there are new dynamics working in the company’s favor.

For one, there’s lower uranium supply (with the largest producers being state owned in the former Soviet Republic of Kazakhstan).

But, the biggest change is the demand for nuclear energy. Right now – nuclear power output is expected to break global records in 2025 as the population grows and more energy is needed.

So it’s safe to say nuclear energy isn’t going away and might be the go-to source for clean energy despite the risks. As you’ll see in the chart below, the time is now to make a trade.

So far this year, Cameco is already ramping up its supply to meet this demand. Its uranium production is up 25% year-over-year.

Its long-term supply contracts have also increased, with annual commitments now standing at 28 million pounds per year through 2028.

Lastly, the company has a strong balance sheet, with huge untapped mines and a dominant position as one of the top five non state producers of the uranium.

Action Plan: Cameco reports earnings in seven days, and earlier this week I got positioned on a put sell trade in The War Room. This unique strategy is so powerful that I’ve posted a 100% win rate on all 21 of these trades in 2024, with a 21.56% average return.

Click here to unlock this trade and learn how put selling could boost your trading skills.