Nuclear stocks traded mixed on Wednesday after the U.S. Army launched a program to deploy small reactors.
Shares of NuScalea small reactor developer, rose more than 16%. Okay, hey and Nano Nuclear fell more than 1% and about 3%, respectively. The uranium company center increased by 10%.
All of these stocks rallied sharply early in the session.
The US Army on Tuesday unveiled a program to build micro-nuclear reactors in collaboration with the Defense Innovation Unit. According to the Army, the microreactors will be operated commercially and with the aim of helping developers expand their businesses.
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NuScale Power (SMR), 1 day
The Army launched the “Janus program” in response to President Donald Trump’s May executive orders aimed at accelerating the deployment of advanced reactors. Trump ordered the Defense Department to commission a reactor at a domestic military facility no later than September 30, 2028.
Investors have speculated heavily on the fate of NuScale, Oklo and Nano Nuclear, even though none of the companies have deployed a reactor yet. Oklo and Nano Nuclear did not generate any revenue. NuScale reported second-quarter revenue of $8 million.
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OK (OK), 1 year
Demand for artificial intelligence and Trump's executive orders have sparked a wave of market enthusiasm for nuclear energy. Goldman Sachs recently urged investors to exercise caution on Oklo.