NuScale Power Corporation's stock is experiencing a decline today, potentially influenced by recent developments in the nuclear energy sector. Notably, Deep Fission and Endeavour Energy announced a strategic partnership to co-develop 2 GW of nuclear energy, which could be seen as a competitive move in the industry. This collaboration aims to deploy next-generation nuclear power, potentially impacting market dynamics and investor sentiment towards other nuclear companies like NuScale. Additionally, Norway's plans to build a small modular reactor (SMR) plant for data centers could further shift focus and investment away from existing players.
The stock's decline may also be attributed to broader market trends and investor reactions to these announcements. As of 10:00 AM on January 8, NuScale Power's stock is down 7.87% to $20.01, compared to its previous close of $21.72. The stock opened at $20.53 and has fluctuated between a high of $21.31 and a low of $19.73. Despite being just 30 minutes into the trading day, the stock has already seen a volume of 2,227,517 shares, representing 18.86% of its average daily volume of 11,812,383 shares.