Is Oklo Inc. (OKLO) Standing Strong Amid Market Decline?

We recently published a list of 10 Firms Stand Strong Amid Market Decline. In this article, we are going to take a look at where Oklo Inc. (NYSE:OKLO) stands against other firms stand strong amid market decline.

The US stock market finished the day on a sour note anew amid the lack of fresh catalysts to spice up trading while investors repositioned their portfolios ahead of 2025.

On Monday, the Dow shed 0.97 percent or 418 points, while the S&P’s broad index decreased 0.95 percent or 56.48 points. Nasdaq Composite registered the biggest decline, down 1.19 percent or 235.24 points.

Despite losses, 10 companies managed to eke out gains, with those in the energy sector posting notable performance. Let’s explore why.

To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Oklo Inc. (NYSE:OKLO)

Shares of nuclear power firm Oklo Inc. (NYSE:OKLO) increased by 3.82 percent anew on Monday to finish the day at $23.65 apiece as investors resorted to bargain hunting following a 5.24-percent decline on Friday.

Just recently, the company signed a non-binding agreement to provide power to Las Vegas-based data center operator Switch. Under the agreement, Oklo will develop nuclear reactors called Aurora Powerhouse for Switch, with a total capacity of 12 gigawatts through 2044.

Prospects for nuclear powers were also warmly welcomed by investors, especially as various US utilities have now been signing deals with huge companies such as Microsoft and Amazon to power their data centers with electricity generated from nuclear plants.

Overall, OKLO ranks 4th on our list of firms stand strong amid market decline. While we acknowledge the potential of OKLO as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than OKLO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.