We recently published a list of 10 Tech, Energy Stocks Are Wednesday’s Worst Performers. In this article, we are going to take a look at where Oklo Inc. (NYSE:OKLO) stands against other tech, energy stocks are Wednesday’s worst performers.
Ten technology and energy companies suffered a bloodbath on Wednesday, primarily due to profit-taking following the previous day’s gains and bearish comments surrounding the progress of quantum computing development.
In this article, we will look at the performance of some of the worst-performing companies and explore the factors behind their decline.
We considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume to come up with Wednesday’s top losers.
Oklo Inc. (NYSE:OKLO)
Shares of Oklo Inc. (NYSE:OKLO) dropped by 11.46 percent to finish at $26.12 each on Wednesday after Nvidia Corp. Chief Executive Officer Jensen Huang’s recent statement that very useful quantum computers may still be more than 15 years away.
Oklo Inc. (NYSE:OKLO), along with other nuclear energy counterparts, all posted declines. According to Wedbush analyst Dan Ives in an interview with the Wall Street Journal, investors have hoped that the boom in artificial intelligence and data centers would fuel the growth of nuclear energy companies.
In other developments, the sell-off was also partly due to profit-taking after the company rose to an all-time high on Monday, reaching $28.34 each.
Overall, OKLO ranks 7th on our list of tech, energy stocks are Wednesday’s worst performers. While we acknowledge the potential of OKLO 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 OKLO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock
Disclosure: None. This article is originally published at Insider Monkey.