Why Centrus Energy Stock Crashed Today
Shares of Centrus Energy (NYSEMKT: LEU) nosedived 9.9% through 9:45 a.m. ET Wednesday.
The supplier of low-enriched uranium used as atomic fuel for nuclear power plants announced last night that it will issue $650 million worth of convertible senior notes due in 2032 (i.e., debt convertible into stock) in an effort to raise the cash it needs to build a supplemental business producing high-assay, low-enriched uranium (HALEU) for use in advanced reactors.
Image source: Getty Images.
Source Fool.com
