Oklo Inc. (OKLO), a company focused on advanced nuclear reactor technology, saw its stock plummet 5.08% in intraday trading on Thursday, continuing its downward trend from the previous day. The significant drop comes as investors grapple with growing skepticism about the company's business model and ambitious timeline for nuclear reactor deployment.

The sell-off appears to be fueled by a combination of factors, including a recently publicized bearish thesis and critical comments from prominent market commentator Jim Cramer. Analysts have raised concerns about Oklo's $5.8 billion valuation, describing it as a "meme stock" that lacks experience in building nuclear reactors. Critics point to significant challenges facing the company, including uncertainties surrounding HALEU fuel supply and the stringent regulatory approval process overseen by the Nuclear Regulatory Commission (NRC).

Adding to investor worries, Oklo's latest earnings report revealed a widening net loss of $73.6 million in the past year, a 129% increase from the previous year. Despite the company's optimistic outlook and recent partnership with Lightbridge to fabricate its metal fuel, market sentiment remains cautious. Jim Cramer emphasized on his show "Mad Money" that it was "way too early" to invest in OKLO shares, describing it as "one of the most speculative stocks out there."

As Oklo continues to face scrutiny over its ambitious projections and ability to overcome industry hurdles, investors appear to be reassessing the risks associated with the company's high-stakes strategy in the nuclear energy sector. The stock's volatility underscores the challenges Oklo faces in convincing the market of its long-term viability and potential for success in the complex and heavily regulated nuclear industry.