Why Did Oklo Stock Rise After-Hours Today?

Oklo stock gained 1.4% in extended trading on Thursday after declining sharply in the regular session.

The nuclear firm said it is planning to build a fuel recycling facility in Tennessee with a total investment of up to $1.68 billion, to be used in its upcoming advanced reactors.

Oklo is setting up the project at Oak Ridge. The facility in Tennessee is expected to begin producing metal fuel for its Aurora nuclear reactors by the early 2030s.

The company and its peers are racing to build advanced nuclear reactors, which could be placed adjacent to industrial facilities and data centers. Earlier this year, the International Energy Agency projected that power consumption by data centers in the U.S. is on course to account for almost half of the growth in electricity demand between 2025 and 2030.

However, most of these new-generation reactors require High-Assay, Low-Enriched Uranium (HALEU) fuel that produces more power per unit of volume, and Russia controls the bulk of global HALEU production.

“By recycling used fuel at scale, we are turning waste into gigawatts, reducing costs, and establishing a secure U.S. supply chain,” OKLO CEO Jacob DeWitte said.

Retail sentiment on Stocktwits about Oklo was still in the ‘extremely bearish’ territory at the time of writing.

The stock fell 3.7% on Thursday after upsizing a stock offering to nearly $540 million, from the $400 million it had planned previously.

“Bears are scared. Tomorrow we rip to $75 easy,” one optimistic user noted.

https://stocktwits.com/Eliezer25/message/627573511 

Oklo also said it is exploring opportunities with the Tennessee Valley Authority (TVA) to recycle the utility’s used fuel at the new facility and to evaluate potential power sales from future Oklo powerhouses in the region to TVA.

Oklo stock has more than tripled this year.

Also See: Why Did Lululemon Stock Plummet Over 15% After-Hours Today?

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on