NuScale Power Corporation's stock is experiencing an upward movement today, driven by a surge in the U.S. energy sector during pre-market trading. Reports indicate that nuclear energy stocks, including NuScale Power, saw gains of over 6% as part of this broader energy sector rally. This increase is likely influenced by recent developments in the nuclear energy space, such as the Tennessee Valley Authority's (TVA) application for $800 million in federal funding to support the deployment of small modular reactors (SMRs) in the U.S. This initiative involves a coalition of industry leaders, including GE Hitachi Nuclear Energy and American Electric Power, which could bolster investor confidence in the potential growth of SMR technology.
Additionally, the global interest in SMR technology is evident with various international collaborations and projects. For instance, Sweden has commenced work on a test nuclear reactor to advance its SMR design, and Ghana has launched Africa's first SMR simulator to promote nuclear research and training. These developments highlight the growing momentum and investment in SMR technology worldwide, which may be contributing to the positive sentiment around NuScale Power's stock.
NuScale Power Corporation's stock is currently priced at $22.89, reflecting a 4.21% increase from its previous close of $21.97. Despite being less than an hour into the trading day, the stock has already seen a volume of 5,186,145 shares, representing 48.87% of its average daily volume of 10,612,231 shares.