Stock Market Today, April 22: NuScale Power Surges After Coverage Highlights Discount to Recent Highs

Small modular reactor developer NuScale Power (NYSE:SMR) closed Wednesday at $13.57, up 16.28%. The stock moved higher after fresh coverage highlighted its steep discount to recent highs and compared its prospects with Oklo (NYSE:OKLO) within a projected $10 trillion nuclear revival. Investors are watching how it converts that narrative into concrete project wins and financing progress.
Trading volume reached 54 million shares, coming in about twice its three-month average of 26.9 million shares. NuScale Power IPO'd in 2022 and has grown 35% since going public.

How the markets moved today

The S&P 500 (SNPINDEX:^GSPC) added 1.03% to finish Wednesday at 7,137, while the Nasdaq Composite (NASDAQINDEX:^IXIC) gained 1.64% to close at 24,658. Within nuclear energy technology, industry peers Oklo closed at $72.41, up 15.65%, and GE Vernova (NYSE:GEV) finished at $1,127.56, rising 13.75% as investors leaned into advanced nuclear themes.

What this means for investors

According to a recent report by Bank of America (NYSE:BAC) analysts, nuclear energy is undergoing a revival that could become a $10 trillion nuclear renaissance. Two stocks investors are speculating with are Oklo and NuScale Power.

Both stocks are well off recent highs as that speculation wildly overpriced near-term business potential. With NuScale stock now 75% below highs reached last fall, some investors are placing their bets on that name.

Earnings from GE Vernova today helped boost optimism as it said large service orders at its nuclear power business helped drive strong Q1 performance in its Power segment. Investors will hear more from NuScale in its Q1 earnings release scheduled for May 7.

Howard Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends GE Vernova. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.