We recently published a list of 10 Firms Mirror Wall Street Decline. In this article, we are going to take a look at where Nuscale Power Corporation (NYSE:SMR) stands against other firms mirroring Wall Street decline.
Wall Street’s main indices suffered a bloodbath on Tuesday, as investors shifted to other higher-yielding assets following better Treasury yields.
The Nasdaq Composite led the drop, losing 1.89 percent, followed by the S&P 500 declining 1.11 percent. Meanwhile, the Dow Jones dipped by 0.42 percent.
The overall market downturn dragged down the prices of these 10 companies. In this article, let’s explore the reasons behind their decline.
To come up with Tuesday’s top losers, 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)
Shares of Nuscale Power Corporation (NYSE:SMR) dropped by 8.24 percent or $1.95 on Tuesday to finish at $21.72 apiece as investors took profits following Monday’s gains.
In other news, Nuscale (NYSE:SMR) alongside its peers is set to benefit from the Department of Treasury and Internal Revenue Service’s revised rules for hydrogen production tax credits that aim to address several key issues to help grow the industry and move projects forward.
The policy revision is particularly timely as it aligns with the broader push towards sustainable energy solutions, where nuclear power, especially through SMRs, plays a crucial role due to its potential for lower emissions and scalable deployment.
The final rules clarify how producers of hydrogen, including those using electricity from various sources, natural gas with carbon capture, renewable natural gas (RNG), and coal mine methane can determine eligibility for the credit.
Overall, SMR ranks 5th on our list of firms mirroring Wall Street decline. While we acknowledge the potential of SMR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SMR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.