Oklo Stock Slides From All-Time High After-Hours On $400M Public Offering, But Retail Stays Bullish

Shares of advanced nuclear technology firm Oklo, Inc. (OKLO) fell 3.7% in aftermarket trading to $65.50 after announcing a $400 million underwritten public offering of its common stock.

The company said it would use the net proceeds for general corporate purposes, working capital, capital expenditures, and potential future investments.

The company also plans to grant underwriters a 30-day option to purchase up to an additional $60 million in common stock.

Last week, Oklo filed a prospectus with the SEC to offer up to $1 billion in securities, including stock, preferred shares, debt warrants, and units.

The stock hit an all-time high of $68.44 in Wednesday’s session as it announced a deal to provide clean power to Alaska's Eielson Air Force Base.

Oklo was issued a notice of intent to award by the Defense Logistics Agency Energy, on behalf of the Department of the Air Force and the U.S. Department of Defense, to deploy its Aurora powerhouse, a compact nuclear reactor system.

Retail sentiment turned ‘bullish’ from ‘bearish’ amid ‘extremely high’ message volumes on Stocktwits.

“To everyone complaining about the offering, they literally said a week ago they would sell up to $1B in public offerings. And this thing has been screaming ever since,” said one user.

https://stocktwits.com/ThePhugoid/message/617611920 

One user believes that the stock could hit $100.

However, the latest public offering has dampened some investor sentiment.

One user believed that market makers knew of the offering and pumped up the stock to dump it at a higher price.

Oklo shares have surged 220% year-to-date as of Wednesday’s close.

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