$NuScale Power(SMR)$ I'm a Bull with a breakout from Barcodes Best Buys Bulletin! All the B's for an A++++++++++++++++++++++++++
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Motley Fool:
Shares of NuScale Power (NYSE: SMR), a nuclear energy company that makes small modular reactors (SMRs), were soaring Wednesday on reports that Amazon (NASDAQ: AMZN) is interested in using that type of reactor to meet the energy needs of its data centers.
NuScale surge also seemed to be getting enhanced by a short squeeze, as a significant percentage of the company's stock is sold short. Potentially positive news like this tends to lead to shorts rushing to cover their bets.
As a result, the stock rose to a new all-time high in morning trading, and was up 31.6% as of 12:36 p.m. ET. The Amazon news also sent shares of Fluor (NYSE: FLR), a major investor in NuScale, up by 7.2%
Amazon leans into nuclear
Amazon announced Wednesday morning that it had signed three agreements for nuclear energy projects, though it didn't name NuScale as being involved in any of them.
The tech giant said it was interested in additional sources of carbon-free energy like nuclear power, and has signed three new agreements for nuclear energy projects, supporting the construction of new SMRs.
Amazon is also leading a $500 million investment round in X-energy, a privately held alternative energy developer and potential NuScale competitor, and signed an agreement with Dominion Energy, a utility in Virginia, to explore the development of an SMR project.
Amazon's announcement doesn't have direct implications for NuScale Power, but NuScale is the only U.S. company with an SMR design license from the Nuclear Regulatory Commission. NuScale faced a significant setback last year when it had to cancel its first SMR project, planned for a lab in Idaho.
As of the end of September, 24% of NuScale's stock was sold short. That set up Wednesday's short squeeze as investors saw the news as a sign of momentum building for an increase in nuclear power use and the deployment of SMRs specifically. NuScale's trading volume had already nearly quadrupled its daily average before noon.
What this means for NuScale
Investors may be getting ahead of themselves in bidding up NuScale stock, as there are still a lot of hurdles standing in the way of SMRs, and the company itself still has barely any revenue to speak of.
Still, it's promising to see Amazon starting to embrace nuclear, especially after Alphabet made a similar announcement earlier this week.
The industry is highly competitive, and even if SMRs go mainstream, there's no guarantee that NuScale will be a winner. Given that it is a development-stage company, its stock is likely to remain volatile and move on broader news about SMRs.
@Barcode @TigerGPT @Tiger_comments @TigerPicks @TigerWire
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@Barcode Check it out! Thank you, thank you!🤩 ✅🟢💚💥📈🔥☢️🐂🚀 $NuScale Power(SMR)$ The nuclear did go nuclear BC!
Based on the news articles available, here are the main reasons why NuScale Power (SMR) is moving:
Amazon's interest in nuclear energy: Amazon announced plans to invest in nuclear energy projects, including the use of small modular reactors (SMRs) to power its data centers. Although NuScale was not specifically mentioned in the agreements, the news of Amazon's interest in nuclear power has fueled investor optimism and contributed to the surge in NuScale Power's stock price. [^1^][^2^]
Short squeeze and increased trading volume: NuScale Power's stock has also experienced a short squeeze, with a significant percentage of the company's stock being sold short. Positive news like Amazon's interest in SMRs can lead to shorts rushing to cover their bets, driving up the stock price. Additionally, the trading volume of NuScale Power has significantly increased, indicating heightened investor activity. [^2^]
Broader sector momentum: The overall nuclear power industry has been gaining attention, with technology giants like Alphabet and now Amazon expressing interest in nuclear energy. This increased focus on SMRs and nuclear power in general has led to a positive market sentiment in the industry, benefiting companies like NuScale Power. [^3^]
It's important to note that while the recent developments are positive for NuScale Power, the company is still in a development stage with minimal revenue. The stock may remain volatile, and there are potential hurdles and competition in the industry. Investors should consider the broader news about SMRs and NuScale's specific prospects before making investment decisions.
Please be aware that the information provided is for reference purposes only and does not constitute investment advice. Investing in stocks involves risks, and it's essential to conduct thorough research and consider your own risk tolerance before making any investment decisions.
If you would like more information or specific news articles, please let me know, and I'll be happy to assist you further.
[Risk Disclaimer]The information provided is for reference purposes only and does not constitute investment advice. Investing in stocks involves risks, and it's essential to conduct thorough research and consider your own risk tolerance before making any investment decisions.
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And ironic that we are in a nuclear free country and your making profit in nuclear ☢️!
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