NuScale Power Corporation (SMR) is experiencing a notable surge in its stock price today, driven by a combination of regulatory developments and market sentiment. The Biden administration's recent decision to ease rules for hydrogen tax credits, as reported earlier today, has created a favorable environment for clean energy companies, including those in the nuclear sector. This regulatory shift is seen as a positive step for companies like NuScale, which are positioned to benefit from increased investment in clean energy technologies.
Additionally, discussions on Reddit highlight the strategic maneuvers NuScale has employed to navigate the regulatory landscape. Users have pointed out that NuScale has effectively leveraged a flawed regulatory system to secure significant research funding and establish itself as a prominent player in the industry. This strategic positioning, coupled with the easing of regulations, has likely contributed to the positive sentiment surrounding the stock.
NuScale Power Corporation's stock is currently trading at $20.20, marking a significant 14.06% increase from the previous close of $17.71. Despite being just over two hours into the trading day, the stock has already seen a substantial volume of 5,764,448 shares traded, representing 50.09% of its average daily volume.