NuScale Power Corporation (SMR) saw a significant surge in its stock price on January 6, 2025, closing at $23.66, up 13.48% from the previous close of $20.85. The stock opened at $22.25 and reached an intraday high of $24.10, with trading volume hitting 15,003,476 shares, surpassing the average daily volume by 30.19%. This uptick was driven by several key developments in the small modular reactor (SMR) sector. Notably, Norway's Halden Kjernekraft AS announced a site for a proposed nuclear power plant using SMRs, aligning with NuScale's strategic focus and highlighting the growing interest in SMR technology. Additionally, a lawsuit by Texas and Utah against the Nuclear Regulatory Commission's SMR regulations could lead to more favorable conditions for companies like NuScale.
Further boosting investor sentiment, Franklin Resources Inc. disclosed a new position in NuScale, indicating increased institutional interest. The stock's positive momentum was also supported by a decrease in short interest, with the short percent of float falling by 3.93%, suggesting a shift in market sentiment.