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NuScale Power (NYSE:SMR) is continuing a big run after the U.S. Department of Energy said it would fund up to $900M to aid in the deployment of small modular nuclear reactors.
Since the announcement a week ago, the stock has soared 30%, including another 10% move on Tuesday that brought SMR’s share price above $11 during intraday trading. That’s the highest level since January 2023 and has prompted many to weigh in on the trajectory of the company.
“Despite U.S. government support and promising partnerships, NuScale faces intense competition from larger, more established players and better-funded startups with next-generation nuclear technology,” SA analyst Stephen Tobin cautions in NuScale: The Good, The Bad And The Ugly.