Why Is NuScale Power Stock Sliding Right Now?
NuScale Power (NYSE: SMR) is a nuclear power start-up focused on small modular reactors (SMRs). The company is a speculative bet on small-scale nuclear power. The stock had been rising, but NuScale shares dropped 37% from July 25 to Aug. 19. What's going on?
It appears that NuScale is the victim of a pair of negative catalysts that hit in rapid succession: news of a big insider stock sale and a tepid quarterly report.
On July 31, construction and engineering company Fluor Enterprises (NYSE: FLR) -- NuScale's largest shareholder -- entered into an agreement to exchange 15 million Class B shares of NuScale stock for 15 million Class A shares. The transaction took place on Aug. 12. That agreement allows Fluor to sell the shares starting on Sept. 11, subject to some daily limitations.
Source Fool.com
