Oklo Inc.'s stock soared 12.23% in intraday trading on Wednesday, outperforming the broader market and leading a rally in nuclear energy stocks. The surge came as benign inflation data raised expectations that the Federal Reserve would cut interest rates further by July, boosting growth-oriented sectors like technology and energy.
The rally in Oklo Inc.'shares was part of a broader surge in nuclear and other technology stocks, driven by the market's expectations of a more dovish Fed policy. Nuclear energy company NuScale Power rose 9%, while NANO Nuclear Energy gained 8% as traders bet that lower interest rates would support the growth of these innovative firms.
Robotics and drone stocks also joined the rally, with Serve Robotics jumping 17% and SES AI Corp surging 26%. The upbeat sentiment spilled over to other emerging technology plays like Unusual Machines, Palladyne AI, and Red Cat, which saw double-digit gains.
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.