Why Shares of Oklo Stock Soared 122% Last Month
Investors are optimistic about nuclear power.
Shares of Oklo (NYSE: OKLO) sank this week, according to data from S&P Global Market Intelligence. The company aiming to build what it calls fast-fission nuclear reactors is benefiting from nuclear energy executive orders and a global renaissance for the energy category. Up almost 400% since going public through a special purpose acquisition company (SPAC), the company now has a market cap of $6.8 billion and zero revenue.
Here's why shares of Oklo soared in the month of May.
Rising demand for electricity has companies in the artificial intelligence (AI) sector looking for truly reliable and renewable energy. Nuclear energy is the only type of energy that checks off both criteria. Large technology companies investing in data centers, like Amazon and Microsoft, are signing commitments to try and get more nuclear power used in their operations. The White House just released an executive order around Nuclear Power, saying the industry in the United States needs to be reinvigorated.
