Oklo Inc. (OKLO) saw its stock price plummet by 5.03% during intraday trading on Tuesday, following an earlier surge in the nuclear energy sector. The volatile movement came in the wake of a significant deal between Meta Platforms and Constellation Energy, which initially boosted uranium-related stocks across the board.
Earlier in the day, Meta Platforms announced a 20-year power purchase agreement with Constellation Energy to buy electricity from a nuclear plant in Illinois. This deal sparked a rally in nuclear energy stocks, with Oklo initially rising by 6.9% in pre-market trading. Other companies in the sector, such as NuScale Power, Uranium Energy, and Energy Fuels, also experienced significant gains.
However, the enthusiasm appears to have been short-lived for Oklo. The sharp reversal and subsequent plummet may be attributed to profit-taking by investors or a market correction following the initial surge. This dramatic swing highlights the volatility often associated with emerging technologies and specialized sectors like nuclear energy.
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