Why Did NuScale Power Stock (SMR) Plummet Today?
Shares of NuScale Power (NYSE: SMR) fell Thursday, finishing the day down 10.5%. The retreat came as the S 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 0.8% and 1%, respectively.
The small modular reactor (SMR) developer is giving back some of yesterday's gains, which followed news that the Tennessee Valley Authority (TVA) signed an agreement to develop a massive 6-gigawatt nuclear project using NuScale's technology.
The TVA agreement represents what could become the largest small modular reactor assembly in the United States, with enough capacity to power 4.5 million homes or 60 data centers once operational. The project will be deployed through ENTRA1 Energy. It's a massive deal and a strong validation of NuScale's nuclear technology.
Source Fool.com
