Why These Energy Stocks Are Losing This Week

5. Constellation Energy Corporation (NASDAQ:CEG)

Share Price Decline Between June 3 – June 10: 7.03%

Next on our list of Stocks that Lost the Most This Week is Constellation Energy Corporation (NASDAQ:CEG), the largest producer of carbon-free energy in the US, with a special emphasis on nuclear power.

Constellation Energy Corporation (NASDAQ:CEG) received significant investor attention last week after the company signed a 20-year power purchase agreement (PPA) with Meta, with the tech giant buying around 1.12 GW of nuclear energy from Constellation’s Clinton Clean Energy Center in Illinois. The landmark deal helped create a strong bullish outlook for CEG, as several analysts also raised their respective price targets for the stock.

In fact, the agreement provided a boost to the overall utility and nuclear energy sectors, as it can serve as a model for Big Tech to support existing nuclear power plants, while also planning to power their data centers with new energy sources. So the recent downturn in the share price of Constellation Energy Corporation (NASDAQ:CEG) could be due to investors booking their profits after an eventful week for the stock.