Oklo Inc. (OKLO) Shares Are Up By 100%+ Since Jim Cramer Called It “Speculative”

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

Oklo Inc. (NYSE:OKLO) is a popular nuclear energy stock among retail investors. The firm develops nuclear power plants, and its shares have gained a whopping 222% year-to-date. Since Cramer’s comments in February, Oklo Inc. (NYSE:OKLO)’s stock has gained 106%. One recent catalyst for the firm was its second-quarter earnings, which sent the stock jumping by 9.2%. The shares rose after Oklo Inc. (NYSE:OKLO) announced that it had completed the first phase of a nuclear regulatory assessment. Here is what Cramer said about the firm in February:

“We really don’t need the, if we don’t want them, you know. I’ll tell you what we really don’t need, we don’t need the nuclear fission through Oklo. A total fan favorite. That’s one of the most speculative stocks out there… It’s frightening when you own a stock because of quantum computing prospects and then those hopes are dashed by an authoritative expert.”

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The CNBC TV host hadn’t shifted his opinion on Oklo Inc. (NYSE:OKLO) as late as June when he commented:

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