Why Oklo Stock Slumped Today
One of the hotter energy stocks of recent times cooled down on Friday. This is next-generation nuclear company (NYSE: OKLO), which provided details of a capital-raising effort it originally announced late Wednesday afternoon. Investors weren't all that happy with this, and on Friday, they traded the stock down to leave it with a more than 1% loss in value.
After market hours Thursday, Oklo provided more information about the secondary share issue it disclosed the previous day. The issue has been priced at $60 per share, more than $4 below Thursday's closing price. The company is to float nearly 6.7 million shares of its class A common stock, so the issue is set to raise gross proceeds of slightly over $400 million.
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Source Fool.com
