Why NuScale Power Stock Jumped to a 52-Week High Today
Shares of NuScale Power (NYSE: SMR) skyrocketed on Wednesday, surging 14.8% as of 1:20 p.m. ET. to a 52-week high of $26.67 a share. With today's rally, the nuclear energy stock is now up a whopping 38.6% so far this month after clocking a massive 65% gain in October.
Investors believe the latest announcement from the White House will propel NuScale Power to new heights.
The White House announced a roadmap yesterday to boost the nuclear energy industry, with plans to "at least" triple nuclear energy production in the U.S. by 2050 by deploying 200 gigawatts of new capacity. The present government believes expanding nuclear energy capacity will create many jobs, strengthen domestic supply, enhance energy reliability, and support the government's target of achieving a net-zero emissions economy by 2050.
Source Fool.com
