NuScale Power (SMR) Climbs 15% as Govt Ignites Nuclear Push

We recently published 10 Stocks With Easy Double-Digit Gains. NuScale Power Corporation (NYSE:SMR) was one of the top performers on Monday.

NuScale rallied for a second day on Monday, jumping 15.14 percent to close at $18.78 apiece as investors drew optimism from the House of Representatives' official review of the nuclear industry in the US.

In a statement, the House of Representatives’ Energy subcommittee said that it would begin with its hearing, which would “offer a chance to discuss the current state of [the] nuclear industry” in the US.

The initiative was aimed at addressing the licensing and deployment of nuclear power while examining how the implementation of recent laws and policies can support the industry’s growth, vital to meeting energy and security needs.

Optimism spilled over to nuclear stocks such as NuScale Power Corporation (NYSE:SMR) and Oklo Inc., among others.

The review aligns with President Donald Trump’s agenda to bolster the nuclear sector in the US, as the country braces for surging power demand driven by the rapid expansion of the artificial intelligence sector, alongside a renewed push to grow the domestic manufacturing industry.

In other news, NuScale Power Corporation (NYSE:SMR) announced that two members of its board of directors, Alan Boeckmann and Kent Kresa, acquired additional shares in the company last December 31.

Boeckmann, for its part, raised his stake by $36,941 with the acquisition of 2,607 new shares, while Kresa acquired $52,457 worth of new shares covering 3,702 units. Both transactions were priced at $14.17 apiece.

The transaction brought Kresa’s indirect ownership through a trust to a total of 86,280 units, as well as Boeckmann’s direct ownership to 76,667.

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