We recently published an article titled Trade Tensions Weigh Heavily on 10 Stocks. In this article, we are going to take a look at where Oklo Inc. (NYSE:OKLO) stands against the other stocks.
The stock market kicked off the trading week in a bloodbath, erasing last week’s gains, with all major indices posting heavy losses following President Donald Trump’s imposition of additional 10-percent tariffs on China, and the resumption of 25-percent taxes on Mexico and Canada.
The tech-heavy Nasdaq posted the biggest losses, down 2.64 percent, followed by the S&P at 1.76 percent and the Dow Jones at 1.48 percent.
According to Trump, there was no room left for Mexico and Canada, and his 25-percent tariff for the two countries “will start.” He also signed an additional 10 percent tariff on goods from China.
The overall sentiment spilled into the performance of 10 companies, which on Monday lost as high as double digits.
To come up with Monday’s top losers, 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.
Oklo Inc. (NYSE:OKLO)
Oklo Inc. (NYSE:OKLO) dropped its share prices by 12.01 percent on Monday to end at $29.38 each as investor sentiment was dampened by the US’ imposition of 25-percent tariffs on Mexico and Canada.
In particular, Oklo Inc. (NYSE:OKLO) was hit over concerns on the status of uranium imports, with Canada being US’ largest uranium supplier, delivering 27 percent of its total supply.
Uranium is used to fuel nuclear companies’ reactors and plants.
Meanwhile, Canada promised that it would retaliate with its own tariff package against US products, triggering further tensions between the two economies.
In other news, analysts are generally bullish on Oklo Inc. (NYSE:OKLO) given the bright prospects from the booming Artificial Intelligence industry that continues to spill over other sectors, including nuclear, as well as the US government’s plan to support the energy sector to power the country’s economy.
Oklo Inc. (NYSE:OKLO) is set to release its financial results for 2024 on Monday, March 24, where investors will be watching out for its outlook guidance for the business.
Overall OKLO ranks 9th on our list of Monday’s top losers. While we acknowledge the potential of OKLO 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 OKLO but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock
Disclosure: None. This article is originally published at Insider Monkey.
Hedge Fund Resource Center