Why NuScale Power Stock Rocketed 17.5% Today
Last week was a great week to own nuclear fuel stocks like (NYSE: CCJ), as the Biden administration announced tenders to buy $3.4 billion worth of nuclear fuel for American atomic power plants.
This week is starting off on a similarly hopeful note for another (potential) beneficiary of administration support for nuclear energy. Rising only modestly on Friday's bullish news, NuScale Power (NYSE: SMR) stock shot up 17.5% through 11:20 a.m. ET today -- on hopes that it will benefit from this program as well.
NuScale Power remains a company in start-up mode. While it often boasts it's "the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology" and says it's "the first and only SMR to have its design certified by the U.S. Nuclear Regulatory Commission," the company doesn't actually operate yet, nor has it actually sold any small modular reactors.
Source Fool.com
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