Shares of NuScale Power, a leading nuclear energy company, surged 5.43% in the pre-market trading session on Tuesday. This significant rally was fueled by former President Donald Trump's announcement of plans to declare a national energy emergency and revive domestic oil, gas, and nuclear power production.
Trump's pledge aims to address inflation and lower energy costs for Americans by unleashing new oil and gas development on federal lands, while rolling back Biden-era climate regulations that have hindered the growth of alternative energy sources like nuclear power. This policy shift has raised expectations of a more favorable environment for companies operating in the nuclear energy sector.
Investors appear to be betting that NuScale Power, which specializes in innovative small modular reactor technology, could benefit from the renewed focus on domestic energy production and support for nuclear power. Trump's pick for Energy Secretary, Chris Wright, has also promised to prioritize the production of nuclear power as part of his plan to boost U.S. energy output.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.