• November 12, 2024

Why NuScale Power Stock Popped and Then Dropped Today

Shares of NuScale Power (NYSE: SMR), a developmental-stage maker of small modular reactors, initially popped this morning on an announcement from the White House on expanding nuclear energy production. The new plan from the White House aims to triple nuclear energy production by 2050, and the plan is supportive of small modular reactors (SMRs), which it said have "strong potential for both grid-based and behind-the-meter resilient electricity." It also name-checked NuScale's VOYGR power modules, and the plan aims to deploy $900 million for new SMR deployments, some of which could go directly to NuScale.