Uranium stocks have cooled off in recent weeks, making this a good time for investors to jump in, according to Bank of America.
Many of the biggest uranium stocks like Cameco Corp. are down about 14% in February.
Since 2021 clean energy ETFs with heavy exposure to wind and solar power have suffered a sharp bear market ( > 30% losses and $2.4bn outflows), but over the same period investors added $2bn into uranium & nuclear power ETFs," Woodard said.
An example of a uranium fund that is seeing such a blip is the Global X Uranium ETF (URA) , which is Woodard's top pick in this space.
Another uranium fund that Bank of America is bullish on is VanEck Uranium and Nuclear Energy ETF (NLR) .
Persons:
Jared Woodard, Woodard, URA, Canaccord, George Gianarikas, they've, Gianarikas, — CNBC's Michael Bloom
Organizations:
Bank of America, Cameco Corp, Uranium, Nuclear Energy, Public Service Enterprise Group, Uranium Trust
Locations:
NLR, Canada