Oklo Inc. (NYSE: OKLO) experienced a significant 24-hour plunge of 5.14% in its stock price during Sunday's trading session. This sharp decline comes on the heels of the company reporting higher losses for the fiscal year 2024 compared to the previous year, raising concerns among investors about the company's financial performance.

The stock's downward movement can be attributed to several factors. Primarily, Oklo's announcement of increased losses for FY 2024 has likely spooked investors, leading to a sell-off. Additionally, the company is facing significant regulatory challenges as it navigates the complex landscape of nuclear technology development. These regulatory hurdles, coupled with the financial setback, appear to have dampened investor confidence in Oklo's near-term prospects.

Despite the current downturn, Oklo has been making strategic moves to strengthen its position in the nuclear technology sector. The company recently announced key appointments to its Board of Directors, including industry veterans Daniel Poneman and Michael Thompson, aiming to bolster its leadership capabilities. Furthermore, Oklo has been actively engaging in partnerships, such as a Memorandum of Understanding with Lightbridge Corporation and a Memorandum of Agreement with the U.S. Department of Energy, which could potentially drive future growth. However, these positive developments seem to have been overshadowed by the immediate financial concerns, resulting in the current stock price decline.