Why X-Energy Stock Collapsed 19.2% This Week
Shares of X-Energy (NASDAQ: XE) fell 19% this week, according to data from S&P Global Market Intelligence. The nuclear energy start-up saw a delay in its construction timeline and an analyst downgrade, which has dragged down the stock since its April IPO.
X-Energy is designing advanced nuclear reactors, partnering with Amazon for future reactor builds. Amazon is also a shareholder in X-Energy, providing upfront capital to build projects to power Amazon data centers.
The roadblock to development stems from the United States government's lack of official approval for any X-Energy reactor, which has delayed the breaking ground of X-Energy's first project with Amazon until 2027. On top of this, Jeffries downgraded the stock this week, from $30 to $22, sending shares sharply lower.
Source Fool.com
