Oklo Inc. (OKLO) shares plummeted 10.82% during Thursday's afternoon trading session, marking a sharp reversal for the nuclear energy company.

The decline is attributed to significant profit-taking pressure following a recent rally driven by regulatory approval for its Aurora power plant, combined with insider selling activity. CEO and co-founder Jacob DeWitte sold 60,000 shares earlier in the week, contributing to investor concerns. Furthermore, the broader Electric Utilities sector traded lower, adding to the downward pressure on Oklo's stock.

This sell-off occurs after the stock experienced substantial gains, with a 30-day return of over 63% and a one-year total shareholder return of nearly 194% prior to the drop. The rapid appreciation had raised valuation questions, with the stock trading at a premium price-to-book ratio compared to industry peers, potentially making it vulnerable to a correction.