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Benzinga

Business

Piero Cingari

This Nuclear Stock Is Rallying Despite Burning Cash: Here's Why

Oklo DOE Oklo Inc Dan Ives Bank of America NRC United States

OKLO, Inc. Nuclear reactors

Despite reporting a wider-than-expected loss for the quarter, shares of Oklo Inc. (NYSE:OKLO) jumped more than 8% during Wednesday morning trading as investors shifted focus to accelerating regulatory approvals, advanced fuel milestones, and U.S. government programs positioning the company at the center of a modern nuclear energy buildout.

According to Benzinga Pro, Oklo reported an EPS of negative $0.20 for its fiscal third quarter ending September, missing consensus estimates of negative $0.13 by a wide margin.

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