Stock Track | ASP Isotopes Shares Plunge After Hours Despite TerraPower Deal

Stock Track10-31

ASP Isotopes Inc. (ASPI) experienced a rollercoaster day on the stock market Tuesday, with its shares initially soaring more than 35% in pre-market trading on the news of a deal with TerraPower to build a facility for producing High Assay Low-Enriched Uranium (HALEU).

The agreement, announced early Tuesday, saw ASPI sign a term sheet with TerraPower, a company backed by Bill Gates, to construct a uranium enrichment facility capable of producing HALEU for TerraPower's planned $4 billion Natrium nuclear reactor project in Wyoming. Under the deal, TerraPower will provide funding for the facility's construction, and the companies plan to sign a long-term supply agreement for all HALEU produced over a 10-year period.

While ASPI hailed the deal as a major milestone, citing the potential to deploy its enrichment technologies at significantly lower capital costs and faster construction times compared to traditional centrifuge processes, the euphoria was short-lived. The stock plunged 5.51% in after-hours trading, raising concerns among investors about the lack of financial details disclosed, potential proliferation risks associated with HALEU production, and uncertainty surrounding the facility's location, which is expected to be in South Africa according to reports.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment