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We recently compiled a list of the These 10 Firms Were Heavily Hit on Friday. In this article, we are going to take a look at where Nuscale Power Corporation (NYSE:SMR) stands against the other stocks.
Wall Street’s main indices finished mixed on Friday, with the tech-heavy Nasdaq emerging as the sole gainer, rallying 0.41 percent. The Dow Jones, for its part, decreased by 0.37 percent, while the S&P 500 was little changed, dipping 0.01 percent.
Ten companies mirrored a mostly pessimistic broader market.
To come up with this list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A Nuclear power plant with all its safety & security protocols in place.
Nuscale Power Corporation (NYSE:SMR)
Nuscale Power Corporation (NYSE:SMR) dropped for a second day on Friday, losing 6.6 percent to close at $23.08 apiece as investors resumed profit-taking following a surge earlier in the week while staying on the sidelines ahead of more concrete updates for the nuclear energy industry.
While outlooks for Nuscale Power Corporation (NYSE:SMR) were generally bullish amid the company's expected ride on the booming energy industry, Friday's trading suggested a lack of fresh catalyst to spark buying appetite.
Over the next few years, Nuscale Power Corporation (NYSE:SMR) is expected to benefit from the government's plan to prioritize boosting energy demand from various energy sources, coupled with an expected uptick in demand from companies in the Artificial Intelligence industry.
According to President Donald Trump, he expects the energy industry to power up the country's manufacturing sector.
Meanwhile, the International Energy Agency (IEA) said in its earlier report that Nuscale Power Corporation (NYSE:SMR)'s business prospects were bullish, saying its small modular reactors were particularly promising.
Overall SMR ranks 10th on our list of the stocks that crashed on Friday. 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 doing so within a shorter timeframe. If you are looking for other AI stocks that are as promising as SMR but that trade at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
Disclosure: None. This article is originally published at Insider Monkey.