SMR - Why NuScale Power Stock Popped on Friday
2023-10-06 10:43:06 ET
Shares of NuScale Power (NYSE: SMR) , a start-up manufacturer of small modular nuclear reactors (hence the ticker SMR), blew up in a good way early on Friday morning, with its shares rocketing 19.2% through 10 a.m. ET.
The company has just announced that privately owned Standard Power will develop two small modular reactors to provide power to its data center company customers. Located in Ohio and Pennsylvania, the SMRs are rated to produce approximately 2 GW combined.
Standard Power explained its choice of NuScale as a partner by pointing out that NuScale is "the only technology provider and producer of SMRs that has obtained U.S. regulatory approval" for its nuclear power plant design.
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Why NuScale Power Stock Popped on Friday