Why NuScale Power Stock Jumped 65% in October
NuScale Power (NYSE: SMR) stock continues to stun investors. It rocketed 65.3% in October, according to data provided by S&P Global Market Intelligence. Thanks to last month's rally and investors' excitement spilling over to this month so far, the nuclear energy stock is up a staggering 550%-plus in 2024, as of this writing.
It took only a couple of non-company-specific events in October to send NuScale Power stock surging.
NuScale Power is a start-up developing scalable, small modular reactor (SMR) plants that aim to provide reliable, carbon-free electricity at a lower cost than the standard large nuclear plants. As more economies seek to replace fossil fuels with low-carbon energy sources, nuclear energy stocks like NuScale Power are grabbing investors' attention.
Source Fool.com
