Why Oklo Stock Jumped 9.2% Today
Shares of (NYSE: OKLO) jumped on Tuesday, finishing the day up 9.2%. The spike came as the S 500 and Nasdaq Composite gained 1.1% and 1.3%, respectively.
Oklo stock started the day down, having dropped in aftermarket trading following Monday's release of its latest quarterly earnings. However, news that the Department of Energy (DOE) has tapped the nuclear energy start-up for a key federal program led to a sharp reversal and the day's gain.
Late Monday, Oklo released its second-quarter results showing a net loss of $24.7 million or $0.18 per share for the pre-revenue start-up. Although this was an improvement year over year and in line with expectations, investors were frustrated by the lack of clarity in its development timeline.
Source Fool.com
