Why NuScale Power Stock Just Jumped 12 Percent
NuScale Power (NYSE: SMR), a start-up developer of nuclear power plants known as small modular reactors (SMRs), is lighting up the stock market Thursday morning after reporting earnings last night.
As of 9:55 a.m. ET today, NuScale stock is up 12%.
NuScale is still in the very early stages of becoming a profit-making company. Sales for the second quarter more than doubled over the year-ago period, but still amounted to just $5.8 million. And while the company earned a tiny gross profit in the quarter (even less than a year ago), heavy spending on operating costs and, especially, research and development left it with a $29.7 million net loss on the bottom line, or $0.13 per share, twice as much as a year ago.
Source Fool.com
