Why Oklo Inc. (OKLO) Went Down on Monday

We recently published an article titled These 10 Companies Led Monday’s Downturn. In this article, we are going to take a look at where Oklo Inc. (NYSE:OKLO) stands against the other stocks.

Wall Street’s major indices kicked off the trading on a positive note, all finishing in the green territory, as investors brushed off fears of growing global trade tensions.

The Dow Jones rose by 0.38 percent, the S&P 500 grew 0.67 percent, while the Nasdaq rallied 0.98 percent.

However, 10 companies defied a broader market optimism, mostly due to a series of stock rating downgrades from investment research companies on the back of poor earnings guidance and dismal earnings performance.

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

An aerial view of a nuclear plant, its domes casting a unique shadow.

Oklo Inc. (NYSE:OKLO)

Shares of Oklo Inc. retreated by 3.17 percent on Monday as investors took profits following a surge in its closing price on Friday.

The company recently enjoyed a boost last week from the confirmation of Chris Wright as the Energy department’s chief, especially since he was a member of OKLO’s board of directors.

With Wright’s installation, prospects for nuclear stocks and the energy industry, in general, looked even brighter over the Trump administration’s stance on prioritizing energy demand first over achieving net-zero goals.

Last month, Trump withdrew the US from the Paris climate deal, saying that the zero carbon policies pushed up the prices of energy for homes and businesses, threatened the reliability of energy systems, and undermined energy security.

OKLO, an advanced nuclear technology company, stands to benefit from the government’s energy expansion program.

Overall OKLO ranks 10th on our list of Monday’s worst performers. 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 timeframe. If you are looking for an AI stock that is as promising as OKLO but that 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 Complete List of 59 AI Companies Under $2 Billion in Market Cap.

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