Why Sam Altman-Backed Oklo Stock Soared Today
Shares of (NYSE: OKLO) jumped on Monday, finishing the day up 11.4%. The jump comes as the S 500 and Nasdaq Composite indexes both moved slightly higher.
The U.K. and the Czech Republic are teaming up to explore opportunities to deploy small modular reactors (SMRs) in the central European country. The news helped boost SMR stocks like Oklo's and added to growing momentum in the nuclear industry.
The possible deal was announced on Monday and would include up to six SMRs made by Rolls-Royce to be 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. Although the news isn't explicitly about Oklo, it further validates SMRs as a viable technology and lifted shares of most SMR developers.
Source Fool.com
