Why NuScale Power Stock Popped 41% in September And Is Up 290% in 2024

NuScale Power's (NYSE: SMR) stock has been on a bit of a roller coaster in 2024, hitting an all-time high of $16.91 in mid-July but then falling somewhat going into the fall. NuScale's stock rebounded dramatically in September, surging 40.7% in the month, according to data provided by S&P Global Market Intelligence. The nuclear energy stock is now up more than 284% in 2024, as of this writing.NuScale Power is a young start-up developing small and scalable modular nuclear power plants based on small modular reactor (SMR) technology to provide reliable and cost-effective electricity. With the world increasingly looking at alternatives to fossil fuels to lower carbon emissions and improve energy security, nuclear energy-based SMR technology looks promising. Recent industry developments and investor sentiment are driving NuScale Power stock to new heights.For clean energy advocates, nuclear power is back in the spotlight. In September, 14 large global banks and financial institutions voiced their support for nuclear energy at an event in New York City. The banks are backing the Declaration to Triple Nuclear Energy endorsed by more than 20 countries at the COP28 summit last year. The declaration sets the goal of tripling global nuclear energy capacity by 2050.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool