TSLA
Tesla
-- 421.060 PLTR
Palantir
-- 80.550 NVDA
NVIDIA
-- 134.700 AMD
Advanced Micro Devices
-- 119.210 OXY
Occidental Petroleum
-- 47.130 
Oklo and Nano Nuclear Energy Fall From Record Highs as Nuclear-Power Stocks' Rally Stalls
$Oklo Inc (OKLO.US)$ and $NANO Nuclear Energy (NNE.US)$ fell more than 15% Tuesday as a recent rally in nuclear-power stocks fizzled out.
OKLO sank as much as 17.5% to an $18.40 session low in morning trading one day after the stock hit a $22.93 intraday record high.
NNE likewise eased to as low as $23.01, down 15.9% on the session after touching a $28.70 all-time high Monday.
Other nuclear stocks to lose power as of shortly before 10:30 a.m. ET Tuesday included:
Nuclear stocks had been rising for weeks after $Microsoft (MSFT.US)$, $Alphabet-A (GOOGL.US)$ and $Amazon (AMZN.US)$ all separately announced investments or contracts with the industry to create nuclear power for the tech giants' cloud-computing businesses, which require vast amounts of electricity.
Microsoft got the ball rolling last month by signing a deal with utility $Constellation Energy (CEG.US)$ to buy electricity from Pennsylvania’s Three Mile Island Unit 1 nuclear reactor, which closed in 2019.
CEG will restart Unit 1, which is located on the same site as the Three Mile Island Unit 2 reactor that suffered a partial meltdown in 1979 in the worst accident in U.S. nuclear-energy history.
Amazon and Alphabet then signed deals with other nuclear-related companies to either buy power or invest in next-generation nuclear technologies.
Although the Amazon and Alphabet deals didn't involve the stocks that had been rising, publicly traded nuclear names gained ground anyway on Big Tech's interest in the sector.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Jerry Kronenberg
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
634Followers
617Following
3385Visitors
Follow
TechSavy : Let's go! $NANO Nuclear Energy (NNE.US)$ to the moon. bought more shares on the dip. $30+ is coming son