We recently published an article titled These 10 Stocks Defied Tuesday’s Bloodbath. In this article, we are going to take a look at where Nuscale Power Corp. (NYSE:SMR) stands against the other stocks.
The stock market fell further into negative territory on Tuesday as trade tensions between the US and its largest trading partners continued.
The Dow Jones fell the most, losing 1.55 percent, while the S&P 500 declined 1.22 percent. The Nasdaq dropped by 0.35 percent.
Following the start of President Donald Trump’s blanket 25-percent tax on goods from Canada and Mexico on Tuesday, and a 10-percent tax on Chinese imports, both Canada and China moved to retaliate with higher taxes on US imports. Mexico is also expected to follow suit.
Despite uncertainties, 10 companies managed to stay stronger, posting impressive gains mostly on the back of better earnings performance. In this article, we have detailed the reasons behind their gains.
To come up with Tuesday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
A Nuclear power plant with all its safety & security protocols in place.
Nuscale Power Corporation (NYSE:SMR)
Nuscale Power Corporation (NYSE:SMR) surged by 11.52 percent on Tuesday to close at $17.23 each as investors cheered news of improved sales last year.
In a statement, Nuscale Power Corporation (NYSE:SMR) said it ended with a 643-percent improvement in revenues in the fourth quarter of 2024 at $34.2 million versus $4.6 million in the same period a year earlier, despite net loss widening by 220 percent to $180.3 million from $56.4 million.
For the full year, revenues rose by 62 percent to $37 million from $22.8 million in 2023 while net loss expanded by 93 percent to $348.4 million from $180.1 million.
Looking ahead, Nuscale Power Corporation (NYSE:SMR) President and Chief Executive Officer John Hopkins said that the company is currently in talks with major technology and industrial companies, utilities, and government agencies for the supply of clean and emission-free energy.
“Whether for AI and the data economy or industrial applications, prospective customers are adamant that no resource is more important in the years ahead than 24/7 clean energy at scale,” he said.
Overall SMR ranks 5th on our list of Tuesday’s top gainers. While we acknowledge the potential of SMR as an investment, our conviction lies in the belief that some 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 SMR but 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.