Oklo Retailers Downbeat After Stock Extends Losses For 5 Straight Sessions

Shares of advanced nuclear technology company Oklo, Inc. (OKLO) fell for a fifth straight session as investors took profit on their recent gains. 

The stock had jumped 50% between May 21-28, buoyed by the Trump administration’s move to strengthen the domestic nuclear industry.

Since then, the stock has shed over 11%.

The weakness was also exacerbated by the company filing a prospectus with the SEC on Monday for offering up to $1 billion in an assortment of securities, including stock, preferred shares, debt warrants and units.

According to the filing, the company plans to use the net proceeds for general corporate purposes, working capital and capital expenditures, and potential future investment.

Retail sentiment on Stocktwits remained ‘bearish’ by late Wednesday, while the message volume was normal. 

One user urged investors to dump their long positions.

Another user voiced their apprehension over the company’s rising expenses and low cash from operations.

Oklo is collaborating with the U.S. Nuclear Regulatory Commission (NRC) to prepare its license application for the development of advanced nuclear technology. It is developing a compact microreactor that requires significantly less space and uranium. The company aims to launch its first commercial power plant at Idaho National Laboratory by the end of 2027.

Nuclear stocks saw a spike last month after U.S. President Donald Trump signed multiple executive orders aimed at expanding nuclear power, including reforms to the independent NRC, faster reactor approvals, access to federal lands for uranium production and enrichment, and support for new reactor construction.

Year-to-date, the stock has surged over 131%.

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