Why Oklo Stock Is Up 21.8% Today
Key Points
Oklo stock is jumping on Friday after the nuclear company reported a loss of $0.22 per share before the bell.
Oklo had $3.13 billion in cash and investments at the end of the quarter, most of it from $2.3 billion in stock sales, but it is still basically pre-revenue.
With a long way to go before Oklo has a working commercial product, I think investors should expect more dilutive stock sales.
- 10 stocks we like better than Oklo ›
Oklo (NYSE:OKLO) stock is jumping, up 21.8% as of 1:08 p.m. ET on Friday, Nov. 6, after the company posted better-than-expected earnings before the bell today.
The S&P 500 (SNPINDEX:^GSPC) and the Nasdaq Composite (NASDAQINDEX:^IXIC) are up 0.6% and 1.1%, respectively.
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Oklo earnings: $0.22 loss per share, little revenue
This morning, the nuclear company Oklo -- which is developing small modular reactors (SMRs) -- reported its latest quarterly earnings, revealing a loss of $0.22 per share. Wall Street was expecting a $0.27 loss per share. The company is still in R&D mode and is basically pre-revenue.
Rival NuScale (NYSE:SMR) posted its own better-than-expected loss after yesterday's close, helping to lift SMR stocks across the board.
Oklo stock: cash, dilution risk, and plant timeline
Oklo had $3.13 billion in cash and short-term investments as of the end of its recent quarter. Most of that came from stock sales totaling $2.3 billion. Investors should expect more dilutive stock sales in the future -- there's a long way to go yet before Oklo has a working commercial product.
Image source: Getty Images.
Still, construction has begun at its first plant in Idaho, which has a preliminary safety approval from the Energy Department. The company expects the plant to come online by 2029 at the latest.
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Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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