Why These Energy Stocks are Losing This Week

8. Oklo Inc. (NYSE:OKLO)

Share Price Decline Between June 18 – June 25: 10.4%

Backed by OpenAI’s Sam Altman, Oklo Inc. (NYSE:OKLO) develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to customers in the United States.

Oklo Inc. (NYSE:OKLO) had a stellar start to the month of June, rising by over 44% on the back of a series of positive developments for the start-up. However, there is still plenty of skepticism surrounding the company, as it is not yet known when its reactors will actually come online.

Oklo Inc. (NYSE:OKLO) suffered a setback this week after Craig-Hallum analyst Eric Stine downgraded its shares from Buy to Hold, while raising their price target from $43 to $59. Craig-Hallum’s checks have exposed ‘various degrees of skepticism’ surrounding Oklo’s regulatory and commercial timelines, so the analyst is of the opinion that it is prudent to wait for evidence of tangible progress.

Oklo Inc. (NYSE:OKLO) is aiming to deploy its first nuclear power plant at Idaho National Laboratory by the end of 2027 or early 2028, but the analyst states that such ambitious goals are ‘predicated on regulatory success in an accelerated time-frame’. Moreover, the company has yet to officially apply to the U.S. Nuclear Regulatory Commission for licensing.