NexGen Energy (NXE) Fell This Week. Here is Why

The share price of NexGen Energy Ltd. (NYSE:NXE) fell by 6.62% between February 3 and February 10, 2026, putting it among the Energy Stocks that Lost the Most This Week.

NexGen Energy Ltd. (NYSE:NXE) is a Canadian uranium explorer and developer, with a focus on the Athabasca Basin region of Saskatchewan.

NexGen Energy Ltd. (NYSE:NXE) slumped after Culper Research announced a short position in the company on February 6, alleging that the net present value of NexGen’s Rook I project is overstated by 43% to 62% and the nuclear fuel developer is ‘ultimately an insider enrichment scheme with substantial downside’. The short seller’s report also claimed that the company’s targeted peak annual uranium production of 29.7 million lbs is ‘impossible to achieve’.

While Culper Research acknowledged that NexGen Energy Ltd. (NYSE:NXE) uncovered ‘supposedly the greatest uranium asset on the planet’ with its Rook I project in Saskatchewan’s Athabasca basin, the short seller believes that NXE is ‘an insider enrichment vehicle masquerading as a uranium development company’.

NexGen Energy Ltd. (NYSE:NXE) has also been under pressure from the recent decline in uranium prices. Uranium futures in the US are currently hovering at $88 per pound, down from the near two-year high of $101.5 achieved at the end of January.

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Disclosure: None.