Trump's Energy Department pick said he would prioritize nuclear power production
While the crypto sector struggled after inauguration, nuclear stocks are in rally mode amid U.S. President Donald Trump's orders to increase energy production. Chris Wright, Trump's pick to lead the Energy Department, last week noted he would prioritize oil and gas, as well as nuclear power production.
Wright is also the director of nuclear stock Oklo Inc (NYSE:OKLO), which was last seen up 10.8% to trade at $34.64, on track for its fifth-straight win after earlier hitting an all-time high of $34.95. The equity is now looking to extend yesterday's 20% pop, and already boasts a whopping 219.6% year-over-year lead.
Shares of NuScale Power Corp (NYSE:SMR) are up 0.4% at $25.68 at last check, trading at their highest level since early December. The 100-day moving average contained SMR's pullback from its Nov. 29, record high of $32.29. Longer term, NuScale Power stock sports a jaw-dropping a 997.4%.