Oklo Inc. (OKLO) saw its stock soar 5.15% in after-hours trading on Monday, reversing its earlier losses during the regular trading session. This surge comes amid renewed interest in nuclear energy stocks following geopolitical developments and domestic energy plans.
The after-hours rally appears to be driven by two key factors. First, the United States' attack on three of Iran's main nuclear sites over the weekend has heightened geopolitical tensions, potentially affecting uranium supply from key producers like Kazakhstan. This development has sparked increased interest in nuclear energy companies as countries may look to secure alternative uranium sources.
Second, reports of New York planning to construct a nuclear power facility, which would be the first major new U.S. plant in over 15 years, have further boosted sentiment in the nuclear energy sector. This news suggests a potential resurgence of nuclear power in the United States, which could benefit companies like Oklo Inc.
It's worth noting that during regular trading hours, Oklo's stock had actually dropped by over 5% following a downgrade from Craig-Hallum to hold from buy. However, the after-hours surge suggests that investors are reevaluating the company's prospects in light of the broader nuclear energy sector developments. As the situation continues to evolve, investors will likely keep a close eye on how these geopolitical and domestic factors impact Oklo Inc. and other nuclear energy stocks in the coming days.
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