NuScale Power Corporation's stock is experiencing a downturn today, potentially influenced by a mix of recent developments and market sentiment. A significant factor could be the ongoing debates and opposition surrounding small modular reactors (SMRs) in the Pacific Northwest. Environmentalists and indigenous tribes have voiced strong opposition to Amazon's plans to build SMRs in southeast Washington, citing concerns over nuclear waste and environmental impact. This opposition highlights the broader challenges facing the nuclear industry, including economic feasibility and public perception issues.
Additionally, the recent announcement of a strategic partnership between Deep Fission and Endeavour Energy to develop SMRs may have shifted investor focus away from NuScale. Deep Fission's innovative approach to placing SMRs in deep boreholes promises reduced costs and enhanced safety, potentially overshadowing NuScale's offerings. Furthermore, the relaunch of EDF's Nuward SMR design, which aims to optimize competitiveness and construction times, adds to the competitive landscape, possibly affecting investor confidence in NuScale's market position.
NuScale Power Corporation's stock is currently trading at $22.21, down 6.13% from the previous close of $23.66. Despite being just 30 minutes into the trading day, the stock has already seen a volume of 3,468,615 shares, representing 29.65% of its average daily volume, indicating a notable level of trading activity early in the session.