Why Oklo Stock Slumped 6.3% Today
Shares of (NYSE: OKLO) fell today, finishing down 6.3%. The decline came as the S 500 and Nasdaq Composite rose 0.1% and 0.3%, respectively.
Oklo, a nuclear energy company developing small modular reactors, saw its stock drop sharply today after a regulatory filing revealed the company is seeking to raise up to $1.5 billion in an at-the-market (ATM) offering.
After markets closed on Thursday, Oklo filed a prospectus with the Securities and Exchange Commission (SEC), disclosing that the company has reached a deal to raise up to $1.5 billion. An ATM offering allows Oklo to sell its shares at its own discretion over the long term.
Source Fool.com
