SMR - Why NuScale Power Stock Exploded 255% in the First Half of 2024
2024-07-16 12:06:29 ET
NuScale Power (NYSE: SMR) makes for a classic case study of how quickly investor sentiment can change for a stock. Few knew about the company until the end of last year. In the first half of 2024 though, NuScale Power stock surged a staggering 255.3%, according to data provided by S&P Global Market Intelligence . The nuclear energy stock's market capitalization is well over the $1 billion mark now.
For a stock that fell 69% in 2023, what changed so dramatically in a few months? Is NuScale Power the newest red-hot growth stock to buy, or is it a speculative bet?
NuScale Power has developed a small modular reactor (SMR) technology that promises to deliver cost-effective, safe, and reliable carbon-free power. Its core NuScale power modules (NPMs) are built on nuclear reactor technology principles, and its power plants can accommodate up to 12 NPMs and generate about 924 million watts of electric capacity. So NuScale's technology can help build small, scalable modular nuclear power plants at a time when the world is transitioning to clean energy .
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Why NuScale Power Stock Exploded 255% in the First Half of 2024