Justin Huhn Says Uranium May Still Be Earlier Than Most Investors Think
Video Overview & Insights
Recorded on April 16, 2026
I've been subscribed to Justin's newsletter since 2021, and whilst I don't doubt his knowledge and work effort, reality is - his performance completely sucks. Whilst I didn't replicate his trades exactly, I did end up buying all his recommendations. Result: Basically flat for almost 5 years, hell of an underperformance. The worst of it: He's been recommending some total losers like GLO, Lotus or Encore for years, sometimes even with strong buys. Not sure if he's revenge trading falling knives now? Just buying urnm would've given me an indefinitely better performance with no effort instead. Feeling stupid.
Justin Huhn of Uranium Insider joins Steve Yang to break down why uranium surged into the high 90s and 100 area earlier this year, why it cooled back into the mid 80s, and why he believes the real signal now is not short term spot volatility but a tightening long term contracting market. Justin explains the difference between spot and term uranium, why utility demand matters more than headline price swings, and how AI, data centers, reactor restarts, life extensions, and new builds are quietly reshaping the long term demand picture. He also lays out why France’s reactor approvals matter, why the uranium cycle may still be earlier than most investors think, and what kind of supply shock could drive the next major move higher. The conversation goes deep on uranium stock selection, management quality, share structure, technical signals, sentiment, and the asymmetric setup Justin still sees in the sector right now. If you follow uranium stocks, nuclear energy, uranium price discovery, or the long term supply demand case for the fuel cycle, this interview is packed with actionable context. Like, subscribe, and ring the bell. #Millettian
Key topics list
Man, he has been saying this stuff since at least 2017. Thank God for SPUT. If SPUT wouldn't have come into existence, we would have been sitting here for 50-60 years!
Why uranium spiked and then cooled
Spot market versus term market
Why the term market matters more than headlines
How AI and data centers support nuclear demand
Reactor restarts and life extensions
Why supply shocks could drive the next move
Where uranium sits in the cycle now
How Justin evaluates uranium equities
The asymmetric uranium bull case
Key risks that could challenge the thesis
Guest or company links
https://www.uraniuminsider.com/
https://x.com/uraniuminsider
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Steve Yang
Natural Resource Stocks
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Chapters
00:00 Cold open
02:13 Intro
02:31 Why uranium spiked then cooled
04:24 Spot versus term uranium
07:09 Real demand versus money flows
10:09 Why life extensions matter
12:46 What sparks the next big move
15:13 Where uranium sits in the cycle
17:02 AI demand and future runway
20:14 Are uranium stocks still attractive
22:33 How Justin evaluates uranium stocks
27:09 The asymmetric setup
30:08 What Uranium Insider offers
33:49 Where to find Justin
34:02 Final thoughts
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