We recently compiled a list of the Why These 10 Stocks Were Skyrocketing on Friday. In this article, we are going to take a look at where NuScale Power Corporation (NYSE:SMR) stands against the other stocks that were skyrocketing on Friday.
Wall Street saw a strong trading session on Friday, with all major indices finishing firmly in the green ahead of President-elect Donald Trump’s return to office.
The Dow edged higher by 0.78 percent, while the S&P rallied 1 percent. Nasdaq, for its part, jumped 1.51 percent.
Ten companies—predominantly Bitcoin miners—were among the day’s standout performers, posting significant gains amid growing optimism in the broader cryptocurrency market, thanks to Trump’s commitment to supporting the sector.
To come up with Friday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A Nuclear power plant with all its safety & security protocols in place.
NuScale Power Corporation (NYSE:SMR)
Shares of NuScale Power Corporation (NYSE:SMR) grew by 8.23 percent on Friday amid a wider market optimism, further boosted by a report from the International Energy Agency (IEA) that the future looks bright for nuclear power.
In a recent report, the IEA posted a bullish outlook for the nuclear power sector at large, specifically small modular reactors (SMR), which Nuscale Power Corp. (NYSE:SMR) is betting on, as being particularly promising.
According to IEA, Nuscale Power’s SMRs in particular offer exciting growth potential.
The IEA also expects an all-time high production of nuclear power this year, saying that the energy source is making a strong comeback.
According to the organization, over 70 gigawatts of nuclear power is now being built worldwide.
In a statement that’s quite pertinent for NuScale Power (NYSE:SMR), the organization believes that small module reactors “in particular offer exciting growth potential.” Additionally, IEA wrote that the increasing demand for electricity and greater interest in nuclear power can “start a new era for the secure and clean power source.”
Overall SMR ranks 7th on our list of the top-performing stocks from Friday’s session. While we acknowledge the potential of SMR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SMR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
