Shares of NANO Nuclear Energy Inc (NNE) soared 5.03% in intraday trading on Wednesday, outperforming the broader market. The surge came after U.S. President Donald Trump issued a flurry of orders aimed at boosting domestic energy production, including support for nuclear power.
In comments after his inauguration, Trump declared "We will drill, baby, drill" and vowed to increase U.S. energy exports. His pick to head the Energy Department, Chris Wright, has stated he will prioritize oil, gas, and nuclear power production.
Wright is known to support advanced nuclear technologies like small modular reactors, which are not yet commercially available but offer potential for safer, more efficient nuclear energy. He currently serves as a director at nuclear startup Oklo Inc, whose stock also gained 5% on Wednesday.
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