We recently published a list of These 10 Firms Are On Fire Today. In this article, we are going to take a look at where NuScale Power Corporation (NYSE:SMR) stands against other stocks that surged yesterday.
Wall Street’s main indices were a mixed bag anew on Thursday, with the tech-heavy Nasdaq the sole loser, as investors continued to digest results of more corporate earnings and key economic data.
The Nasdaq was down by 0.18 percent. In contrast, the Dow Jones grew by 0.65 percent while the S&P 500 rose by 0.41 percent.
Beyond the major indices, 10 companies finished stronger on the back of impressive corporate earnings and planned mergers and acquisitions. In this article, we explore the specific reasons behind their surge.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.
A Nuclear power plant with all its safety & security protocols in place.
NuScale Power Corporation (NYSE:SMR)
Shares of NuScale Power grew for a sixth straight day on Thursday, adding 4.62 percent to close at $24 each as investors cheered the announcement of huge future projects during the company’s release of its first quarter performance.
At a shareholders’ meeting, NuScale Power Corporation said that it is in advanced discussions with several potential customers for its small modular reactors that could deliver an operating power plant by 2030. The potential customers include the energy-hungry data centers, government agencies, utilities, coal plant operators transitioning to nuclear, and petrochemical and energy companies.
Additionally, it is also on track to secure the approval of the US Nuclear Regulatory Commission for the uprated 77-megawatt electric design over the next two months.
In the first quarter of the year, NuScale Power Corporation expanded by 857 percent to $13.4 million from $12 million in the same period last year.
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This article is originally published at Insider Monkey.
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