Oklo Inc. (NYSE:OKLO) is one of the 12 stocks on Jim Cramer’s radar recently. A caller asked about the company during the lightning round. Here’s what Mad Money’s host had to say:
“Okay, I know Oklo really well. There would be a time where I said, listen, don’t touch it. But you know what? Nuclear is coming back. I’m not going to keep anybody out of Oklo. It is just… too likely that they actually do.”
An aerial view of a nuclear plant, its domes casting a unique shadow.
Oklo (NYSE:OKLO) develops and constructs fission power plants that generate stable, large-scale energy. The company also provides services related to the recycling of spent nuclear fuel. It is worth noting that on June 11, Cramer said:
“What else fits the moment? We’ve become transfixed by nuclear power. We know that the data centers that seem to be going up everywhere are humongous users of electricity. We know that the hyperscalers who run the data centers would prefer to use nuclear power because it’s clean. We know that we’ve been decommissioning nukes for decades because we thought they were unsafe. But one company, Oklo, never gave up hope that the nuclear industry could turn things around and has toiled for 12 years to get its form of nuclear power endorsed by our government.
These guys are serious professionals. One of its board members was current Secretary of Energy, Chris Wright, a textbook oil man, CEO of the second largest fracking company, Liberty Energy. Now, Oklo has no earnings and it’s losing… money, but no matter. After the close tonight, the company offered $400 million worth of stock to give them plenty of breathing room. It’s the kind of smart offering that keeps the ball rolling.
Others here should be thinking of the same thing when they have good news, like Oklo. The income statements simply don’t matter in the year of magical thinking because we just learned that Oklo was selected as the intended award winner to power Eielson Air Force Base in Alaska with a nuclear power plant. When it rains, it pours. The NRC, the Nuclear Regulatory Commission, has started reviewing a report that says Oklo could streamline the whole process, which we know is cumbersome… Maybe these guys can build, make it easier to build nukes. I don’t know. Oklo has the whole group jumping, which is exactly what you’d expect in this year of magical thinking.”
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