10 Stocks That Underperformed Last Week

6. NuScale Power Corp. (NYSE:SMR)

NuScale Power dropped its share prices by 17.5 percent week-on-week—the second consecutive week of decline—ending Friday’s trading at $19.04 each versus the $23.08 registered on February 14, and the $25.84 price on February 7 amid the lack of fresh catalysts to spark buying appetite, while also digesting news of budget cuts in the Department of Energy.

Last week, DOE spokesperson Ben Dietderich told Fox News that they slashed the agency’s budget by over $124 million, “from millions of dollars of DEI contracts to ridiculously expensive multi-million-dollar Politico news subscriptions.”

He signaled that more budget cuts are expected to occur in the coming months.

The news was particularly relevant for energy companies as budget cuts in the agency could potentially derail the development of energy programs, particularly research and development and loan programs offered by the department.