NuScale Power's stock plummeted 5.01% during intraday trading on Thursday, as the company faced significant selling pressure following major divestment by a key shareholder.

The decline comes after Fluor Corporation completed the sale of its remaining 40 million shares of NuScale Power, generating gross proceeds of $473 million. This transaction follows Fluor's earlier sale of 13.5 million shares just days before, meaning the company no longer holds any shares in NuScale Power. Large-scale selling by a major shareholder and director typically signals negative sentiment and creates substantial downward pressure on stock prices.

Adding to the bearish sentiment, HSBC initiated coverage on NuScale Power with only a Hold rating and a $13 price target, which provided limited positive catalyst for the stock amid the significant selling activity from Fluor's complete divestment.