Why NuScale Power Corporation (SMR) Soared At The Start Of The Trading Week

We recently compiled a list of the 10 Firms Kick Off Trading Week Soaring. In this article, we are going to take a look at where NuScale Power Corporation (NYSE:SMR) stands against the other stocks.

Wall Street’s main indices kicked off the trading week soaring on Tuesday amid a series of catalysts from President Donald Trump’s inauguration event that fueled investor sentiment.

The Dow rose by 1.24 percent, the S&P 500 rose 0.88 percent, while the Nasdaq Composite increased 0.64 percent.

On Tuesday, 10 companies—mostly under the space exploration, energy, and quantum computing sectors—registered the highest gains. In this article, let’s take a look at their impressive performance.

To come up with Tuesday’s top gainers, we considered only the stocks with at least $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 (SMR) rose for a second day on Tuesday, adding 16.57 percent to its valuation to end at $25.61 each following statements by President Donald Trump pledging support for the energy sector as a key driver in the resurgence of US manufacturing.

At his inauguration on Monday, Trump said that the US “will bring prices down, fill our strategic reserves up again right to the top, and export American energy all over the world.”

In addition, Nuscale earned a boost from a report by the International Energy Agency (IEA), posting a bullish outlook for the nuclear power sector at large, specifically small modular reactors (SMR), which Nuscale Power Corp. (SMR) is betting on as being particularly promising.

According to IEA, Nuscale Power’s SMRs in particular offer exciting growth potential.

The IEA also expects an all-time high production of nuclear power this year, saying that the energy source is making a strong comeback.

Overall SMR ranks 9th on our list of the firms that kicked off the trading week soaring. While we acknowledge the potential of SMR 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 timeframe. If you are looking for an AI stock that is as promising as 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.