NuScale Power Corporation (SMR) saw its stock price rise by 8.33% to close at $21.97 on January 17, 2025, following a series of positive developments in the nuclear energy sector. The stock opened at $21.00 and reached a high of $23.23 during the day, with trading volume nearly matching its average at 11,012,390 shares. A key driver of this surge was a favorable report from the International Energy Agency (IEA), which highlighted the growth potential of small modular reactors (SMRs) like those developed by NuScale. The IEA's report emphasized the increasing demand for clean and reliable energy sources, positioning SMRs as a promising solution in the evolving energy landscape.
Additionally, NuScale's recent strategic initiatives, such as the launch of the NuScale Energy Exploration Center in Accra, Ghana, have bolstered investor confidence. This center aims to provide training and education for operating advanced nuclear reactors, expanding NuScale's influence in the African energy sector. The broader nuclear power market is also projected to grow significantly, with a new report forecasting an increase from USD 38.84 billion in 2024 to USD 44.71 billion by 2029. These factors, combined with the strategic importance of nuclear power in global energy policies, have contributed to the positive sentiment surrounding NuScale Power's stock.