NuScale Power Corporation (SMR) is experiencing a rise in its stock price today, likely driven by the announcement of Alan Boeckmann as the new Non-Executive Chairman of the Board of Directors, effective January 15, 2025. Boeckmann's appointment is seen as a strategic move to maintain strong ties with Fluor, NuScale's original sponsor and largest shareholder, given his previous experience as CEO and Chairman at Fluor. This transition is expected to bolster investor confidence in NuScale's strategic alignment and future growth prospects.
Additionally, the broader market sentiment towards small modular reactors (SMRs) is positive, as highlighted by recent reports indicating an acceleration in SMR announcements and their potential role in addressing the growing energy demands of data centers. The increasing interest in SMRs as a solution for sustainable energy needs aligns with NuScale's focus on innovative nuclear technology, further supporting the stock's upward movement.
NuScale Power Corporation's stock is currently trading at $19.50, reflecting a 3.72% increase from its previous close of $18.80.