Stock Market Today, June 5: NuScale Power Falls as Speculative Technology Names Tank

NuScale Power (NYSE:SMR), developer of small modular nuclear reactors, closed Friday at $10.50, down 12.50%. The stock moved lower during the regular session as traders continued to reassess its investment narrative while monitoring evolving SMR policy support and new use cases.
Trading volume reached 45.2 million shares, about 45% above its three-month average of 31.2 million shares. NuScale Power IPO'd in 2022 and has grown 4% since going public.

How the markets moved today

The S&P 500 (SNPINDEX:^GSPC) fell 2.63% to 7,385, while the Nasdaq Composite (NASDAQINDEX:^IXIC) lost 4.18% to finish at 25,709. Within specialty industrial machinery, industry peers Oklo (NYSE:OKLO) closed at $58.09, down 11.16%, and Nano Nuclear Energy (NASDAQ:NNE) ended at $23.56, off 9.94%, reflecting broad weakness across SMR developers.

What this means for investors

It shouldn’t be a surprise that speculative energy names like NuScale Power underperform the market on a risk-off day. With the Nasdaq having its worst day since April 2025, NuScale shareholders should take today’s move in stride.

Today’s plunge comes as investors focus more on technology names and ponder whether a bubble created from AI spending could be on the verge of deflating. NuScale could tap into the AI data center market to thrive, but that is still years away. A sector shift would change the stock's narrative.

Federal and municipal support will be critical for NuScale Power either way. Recent tailwinds include reports that the New York Power Authority (NYPA) is pursuing large and small modular reactors for future power generation.

Applications beyond data centers, including propulsion for container ships, could also contribute to future success. The question is how far into the future. Until the company reports commercial use, investors should continue to expect volatility in this name.

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