Why Oklo Inc. (OKLO) Crashed on Thursday

We recently compiled a list of the 10 Stocks Drop Double Digits as Investor Caution Lingers. In this article, we are going to take a look at where Oklo Inc. (NYSE:OKLO) stands against the other  stocks.

The stock market fell into the negative territory on Thursday, as investor caution lingered over the ongoing trade tensions among some of the world’s largest economies.

The tech-heavy Nasdaq posted the largest loss, down 2.61 percent, followed by the S&P 500 with 1.78 percent, and the Dow Jones with 0.99 percent.

Ten companies mirrored a broader market decline, dropping by as much as double digits during the end of the session. In this article, we named Thursday’s 10 biggest losers and detailed the reasons behind their decline.

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

An engineer conducting tests in a laboratory, looking closely at the latest nuclear fuel technology.

Oklo Inc. (NYSE:OKLO)

Oklo Inc. (NYSE:OKLO) saw its share prices decline by 14.26 percent on Thursday to finish at $25.97 apiece as trade threats between the United States and its trading partners continued to spook investors.

Oklo Inc. (NYSE:OKLO), a nuclear technology company, has been hit by fears on the status of uranium imports used to fuel nuclear reactors and plants, with the new tariffs on Canadian imports now in place.

Canada is the US’ largest uranium supplier, with 27 percent of total deliveries to the US.

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 also set to release its financial results for 2024 on Monday, March 24, and investors will be watching out for its outlook guidance for the business.

Overall OKLO ranks 7th on our list of Thursday’s biggest 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: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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