NuScale Power Corporation (SMR) Is A Nuclear Power Stock That Jim Cramer Was Wrong About

We recently published Jim Cramer’s 13 Quantum Computing & Nuclear Stock Predictions – See How They Played Out! NuScale Power Corporation (NYSE:SMR) is one of the stocks Jim Cramer recently discussed.

NuScale Power Corporation (NYSE:SMR) is a nuclear power generation hardware manufacturer that primarily deals with small and modular nuclear reactors. Its shares have gained 97.8% year-to-date, but would have been even higher had it not been for a 32% dip since late-July. The stock has gained a whopping 192% since Cramer’s October comments, where he warned that the firm was losing a lot of money and it was better to invest in GE Vernova instead. Some catalysts that have driven NuScale Power Corporation (NYSE:SMR)’s performance since July include a weak earnings report and a shareholder selling the stock. Here’s what Cramer said about the firm in October 2024:

“Yes, again, that’s a small scale nuclear module reactor [company]. And I think that company’s losing a lot of money. You might as well go again with GE Vernova, GEV, because that’s something else to fall back on and you still get the nukes.”

Photo by Frédéric Paulussen on Unsplash

Cramer continues to believe that NuScale Power Corporation (NYSE:SMR) is overvalued, as he recently commented:

“NuScale, okay, here’s the problem with NuScale, it is… really, really high. Here’s the answer with NuScale, if it does an offering here, that’s when I’d buy. I’d wait for the stock offering after what happened with Oklo tonight.”

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Disclosure: None. This article is originally published at Insider Monkey.