NuScale Power, Oklo shares fall 5%, Centrus Energy down 6% as interest rate concerns drag nuclear energy stocks
Shares of small modular reactor developers NuScale Power (NYSE:SMR) fell 5% to $8.80, Oklo (NYSE:OKLO) dropped 5% to $40.87, and Centrus Energy (NYSE MKT:LEU) declined 6% to $172.68. The sell-off reflects a general reduction in investor exposure to the nuclear energy sector, particularly to pre-commercial nuclear projects that require significant capital before generating meaningful revenue and are especially sensitive to rising interest rates. NuScale Power's second-quarter revenue of just $75,000 and its announcement of a $750 million stock sale plan exacerbated investor concerns. Despite Centrus Energy's second-quarter revenue increasing 14% year-over-year to $176.1 million, it was still affected by industry sentiment. The Global X Uranium ETF (NYSE ARCA:URA), which tracks uranium miners and nuclear component manufacturing companies, also fell 3%, indicating widespread market weakness.
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