Oklo Just Dropped Below $50. Should Long-Term Investors Pounce?

Oklo (NYSE: OKLO) stock has fallen below $50 a share, continuing a downward slide that began in mid-October of 2025. Not that long ago, investors were paying four times today's price for a nuclear energy company whose vision hasn't fundamentally changed.

The sharp sell-off naturally raises an important question: Is this a buying opportunity for long-term investors?

What has changed since Oklo peaked?

To get at the question, let's look at what has actually changed for Oklo since it peaked at all-time highs. Frankly, the change has been overwhelmingly positive.

In October 2025, just as the stock was sliding, Oklo entered a strategic partnership with a European reactor developer, newcleo (get it?), to develop fuel fabrication and manufacturing infrastructure in the U.S. Since nuclear fuel could become a huge bottleneck for nuclear energy in the future, this partnership could give Oklo greater control over that most critical part of the nuclear supply chain.

It didn't advance Oklo any closer to commercializing its Aurora powerhouse -- and apparently didn't do anything for the stock -- but I'd still give the move an A- for strategy.

Image source: Oklo.

Then, at the start of 2026, Oklo announced a major deal with Meta (NASDAQ: META), probably one of its most momentous. In this deal, Oklo agreed to support Meta's 1.2 gigawatt (GW) power campus in Ohio, ultimately to power its data centers in the region. The agreement allows Meta to prepay for power, which could provide Oklo with funding to build Aurora powerhouses there.

Again, it's not guaranteed commercial revenue in the coffers, but it's one of the clearest signs yet that major tech companies are interested in its technology.

Lastly, the Department of Energy (DOE) recently approved the final safety analysis for Oklo's Grove Isotope Test Reactor in Texas. This approval puts the reactor in the last stages before it can begin start-up testing. Oklo is aiming to demonstrate criticality -- that is, achieve a self-sustaining chain reaction -- before the end of July 2026.

Is Oklo the buying opportunity of a lifetime?

The three developments mentioned above are positive signs from pre-revenue Oklo that it's moving forward, even as its stock moves in the opposite direction. But do they constitute a big enough change to make Oklo a buy today?

One thing is for certain: None of these changes eliminate Oklo's most pressing challenges. It still needs regulatory approval to commercialize its reactors, and it still needs to prove that its technology works in real-world settings. It could take years before Oklo has successfully put these challenges behind it, if it ever does.

The stock carries a much more favorable valuation than it once did, though its $8 billion market cap is still pricey by traditional standards. I wouldn't call Oklo the buying opportunity of a lifetime, but at today's price, I think it's worthy of a small position for patient investors willing to think a decade ahead.

Steven Porrello has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms. The Motley Fool has a disclosure policy.