X-Energy's stock fell sharply during intraday trading, declining by 5.31% as the nuclear technology company experiences continued selling pressure following its recent initial public offering.

The decline appears to be driven by profit-taking from early investors who participated in the company's successful IPO. X-Energy recently priced its upsized offering at $23 per share, raising approximately $1.02 billion, with the IPO being oversubscribed by more than 15 times. Following its Nasdaq debut, the stock surged approximately 27% on the first trading day and continued to climb in subsequent sessions before the current pullback began.

Despite the recent decline, X-Energy shares remain well above their IPO price, suggesting that the current movement represents profit-taking rather than fundamental concerns about the company's prospects. Key backers including Amazon, which holds close to 20% of the company following a roughly $500 million investment, continue to support the nuclear technology firm.