NANO Nuclear Energy Inc's stock plummeted 5.2% in the intraday trading session. The significant drop comes after the company announced its engagement with aRobotics Company to oversee the multimillion dollar build out of its recently acquired facility.
While expanding operations is generally a positive move for a company's growth, investors seem concerned that the sizeable costs involved in the facility build out could weigh on NANO Nuclear's financials in the near-term. The company did not disclose specific financial details related to the project.
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