I bought Centrus as one of the few uranium companies that offers leverage to uranium prices—but that also delivers to the bottom line today, while offering exceptional upside if its HALEU becomes the preferred fuel for small modular reactors tomorrow. Share prices went nuts when uranium broke out last year, so I waited patiently and bought when they'd corrected about 50%. But then war broke out in Eastern Europe. This boosted most uranium plays, but not Centrus, because it makes money buying enriched uranium from Russia and selling it in the US. When Russia invaded Ukraine and the sanctions started, I decided to sell my Centrus shares as a precaution. At the time, the company's business was not affected, and TPTB were exempting energy from sanctions. But I didn't want to chance things taking a turn for the worse, so I stepped out of harm's way, hoping to buy back in if the trouble blew over. Sadly, the trouble got worse. The latest sanctions now specifically cover the sources of Centrus' enriched uranium. The company will apply for an exemption, of course, but I doubt they'll get it, so I've decided to book the already-closed trade and move on. I'll reconsider if/when the company comes up with a new, sanction-proof business plan or its HALEU business takes off. For now, I expect it to continue underperforming other uranium plays, so I'm glad my clients were able to get out on time.
By the way, I alerted The Independent Speculator clients when I decided to sell and gave them first dibs on good exit prices. The opportunity to both buy and sell before I do is a big part of why I charge what I do for my service.