Stock Track | NuScale Power Tumbles 5.11% on Intensifying Competition Concerns from GE Vernova

Stock Track12-03

NuScale Power's stock (SMR) plummeted 5.11% on Tuesday, as investors grew concerned about the company's ability to compete in the emerging small modular reactor (SMR) market.

The intraday selloff was driven by a CNBC report highlighting the competitive threat posed by GE Vernova, the former energy arm of General Electric. GE Vernova, a $92 billion behemoth, is already profitable and aims to deploy its BWRX-300 SMR across the developed world over the next decade. In contrast, NuScale Power has less than $10 million in annual revenue and is currently unprofitable, raising doubts about its financial capacity to compete effectively against a larger and more established player like GE Vernova.

While NuScale Power is the first and only SMR to have its design certified by the U.S. Nuclear Regulatory Commission, analysts believe that in a direct contest between the two companies, GE Vernova's significant financial resources and existing profitability give it a competitive advantage. This has led to concerns among investors about NuScale Power's long-term prospects in the SMR market, driving the stock's plummet in the trading session.

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