Why Oklo Stock Bumped Higher This Week

The American nuclear industry was the focus of much attention this week, and as a result, there was significant action in Oklo (NYSE: OKLO) stock. The reactor developer's shares notched a more than 5% gain over the week, according to data compiled by S&P Global Market Intelligence.

Trump goes nuclear

This week's momentum behind Oklo and other nuclear stocks was stirred by none other than President Trump, when he signed an executive order (EO) last Friday aimed at supporting the industry. Among other measures, the EO allows for the testing of reactors at Department of Energy laboratories, and construction of nuclear power facilities on public land.

Image source: Getty Images.

"We are restoring a strong American nuclear industrial base, rebuilding a secure and sovereign domestic nuclear fuel supply chain, and leading the world toward a future fueled by American nuclear energy," the White House quoted Trump as saying.

Oklo also received a boost from outside our borders; on Tuesday, the company announced it signed a memorandum of understanding (MoU) for a project in Asia. Under its terms, the American company and peer Korea Hydro & Power will collaborate on developing an Oklo facility in Idaho. Additionally, the two are to cooperate on various aspects of early-stage projects.

Part of a powerful trio

Finally, Oklo received something of a stamp of approval from an industry analyst.

Jed Dorsheimer of William Blair initiated coverage of a small clutch of nuclear stocks, specifically Oklo, BWX Technologies, and Centrus Energy. The pundit tagged all three as buys; according to reports, he was particularly taken with Oklo's vertically integrated business model.

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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends BWX Technologies. The Motley Fool has a disclosure policy.