Why Oklo Inc. (OKLO) Is Skyrocketing?

We recently published a list of These 10 Firms Were Thursday’s Top Performers. In this article, we are going to take a look at where Oklo Inc. (NYSE:OKLO) stands against other firms that were Thursday’s top performers.

Wall Street’s main indices closed higher again on Thursday, with the Dow eking out a 0.92-percent gain, while the S&P 500 and Nasdaq Composite grew 0.53 percent and 0.22 percent, respectively.

Ten companies, predominantly under the health, energy, and technology sectors—mirrored the gains on the back of stronger earnings performance and other catalysts fueling buying appetite.

Thursday’s top advancers only considered the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Oklo Inc. (NYSE:OKLO)

Shares of Oklo Inc. (NYSE:OKLO) rose for a sixth day on Thursday, ending the day adding 13.78 percent to its current valuation at $38.78 apiece.

On the same day, Oklo (NYSE:OKLO) announced that it signed a memorandum of understanding with Lightbridge to jointly explore opportunities for reprocessing and recycling spent uranium-zirconium fuel.

The companies said they plan to conduct a feasibility study of operating a Lightbridge commercial-scale fuel fabrication facility in the same location as Oklo’s proposed commercial fuel fabrication facility. The partnership was expected to potentially lead to advancements in the nuclear fuel sector.

In other news, Oklo (NYSE:OKLO) last week earned a boost from hopes of a booming US energy sector, with President Donald Trump promising last week that the US would bank on the energy industry to bolster US manufacturing.

He said that the US “will bring prices down, fill our strategic reserves up again right to the top, and export American energy all over the world.”

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