NuScale Power (SMR) experienced a significant 24-hour plunge of 5.45% on Wednesday, closing at $51.24, following a day of volatile trading. The stock had initially surged by as much as 22.6% in early trading but failed to maintain its gains, ultimately ending the session in negative territory.

The initial rally was sparked by the U.S. Army's announcement of the Janus Program, a new initiative aimed at deploying small nuclear reactors at military bases worldwide. This news initially boosted investor enthusiasm for NuScale Power, as the company specializes in small modular reactor (SMR) technology that aligns with the Army's requirements. NuScale's SMRs are designed to be scalable and installable in compact spaces and remote locations, making them potentially suitable for military applications.

However, the stock's sharp reversal suggests that investors may have reassessed the immediate impact of the Army's announcement on NuScale's business prospects. While the Janus Program represents a potential opportunity for companies in the nuclear energy sector, it remains unclear which firms will benefit directly from government contracts. The market's reaction indicates a possible correction after the initial excitement, as traders weighed the long-term implications against near-term uncertainties in the highly competitive nuclear reactor market.