NuScale (SMR) Surges 34% W/W on Fuel Cell, AI Boom

We recently published 10 Stocks With Unbelievable Gains This Week. NuScale Power Corporation (NYSE:SMR) is one of this week’s biggest players.

NuScale Power saw its share prices surge by 34.07 percent week-on-week, ending Friday’s trading at $50.25 versus the $37.48 last Friday, as investors turned optimistic about a research study that projected the fuel cell market to expand by more than 21 percent annually through 2029.

The highest rally was notable on Friday following BCC Research’s release of the Global Fuel Cell Generator Market study that said the sector was projected to increase to $3.1 billion by 2029 from $1.4 billion in 2024, at a compound annual growth rate (CAGR) of 21.2 percent.

“Fuel cell generators provide a steady and dependable power source, especially during grid outages, making them a smart choice for backup or even main power,” it said.

Additionally, investors positioned portfolios ahead of the release of NuScale Power Corporation’s (NYSE:SMR) release of its second quarter earnings performance on August 8.

Investors will be closely watching for cues of deals with companies following President Donald Trump’s signing of an executive order in May which would support a government target to quadruple the US nuclear power industry by 2050.

While we acknowledge the potential of SMR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.