Why NuScale Power Stock Jumped Today
Shares of NuScale (NYSE: SMR) jumped on Monday, finishing the day up 12.8%. The jump comes as the S 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) both moved slightly higher.
Small modular reactors (SMR) stocks across the industry, including NuScale's, are up on the news that the U.K. and the Czech Republic are teaming up to explore opportunities to deploy SMRs in the central European country.
On Monday, the two countries said they were exploring a deal that would include up to six Rolls-Royce SMRs exported to the Czech Republic. The announcement follows last month's pledge from the U.K. government to invest $2.5 billion in building SMR technology. While this news doesn't directly affect NuScale, it helps validate nuclear SMRs as a viable technology.
Source Fool.com
