Oklo (OKLO) Tumbles 9% as Goldman Cautions Investors, Exec Unloads Stake

We recently published 10 Big Names Investors Are Dumping. Oklo Inc. (NYSE:OKLO) is one of the companies that heavily bled in Thursday’s trading.

Shares of Oklo dropped for a second day on Thursday, shedding 9.18 percent to close at $119.13 apiece, as investor sentiment was dampened by a combination of insider selling and an investment firm’s cautious coverage for the company.

In a market note on Wednesday, Goldman Sachs urged investors to position their portfolios on Oklo Inc. (NYSE:OKLO) with caution, saying that its valuation appears full and its business strategy needs de-risking. It gave a “neutral” rating for the stock.

“Over the past year, OKLO has been a catalyst-driven stock, and while we see a path for continued near-term catalysts, we believe the company needs to secure finalized customer agreements,” Goldman Sachs told its clients.

At present, Oklo Inc. (NYSE:OKLO) remains a pre-revenue company that has yet to file and secure a license to build and operate its first 75-megawatt powerplant called Aurora Powerhouse. It is expected to be fully operational by late 2027 or early 2028.

In other news, Oklo Inc. (NYSE:OKLO) saw its key executives disposed of positions, with its chief executive officer, Jacob DeWitte, unloading $3 million of his interest in the company in the form of a gift.

Meanwhile, Director Michael Klein also sold off $6.7 million worth of his shares, while Chief Finance Officer unloaded $9.4 million worth of stocks.

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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.