Why Oklo Stock Dropped on Thursday
Key Points
DOE is asking states if they would like to host Nuclear Lifecycle Innovation Campuses" within their territory.
These sites would research fuel fabrication, enrichment, reprocessing used nuclear fuel, and disposition of waste.
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Oklo (NYSE: OKLO) stock, the start-up manufacturer of small modular (nuclear) power reactors, slid 8.3% through 10:10 a.m. ET Thursday after the U.S. Department of Energy (DOE) announced its "New Effort to Modernize America's Nuclear Fuel Cycle and Support Advanced Reactor Deployment."
The announcement made no mention of Oklo.
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Details, please
DOE issued a request for information (an "RFI," a preparatory step in the government contracts process that precedes issuing a request for proposals and far precedes award of actual contracts) yesterday. This RFI invites states to express interest in hosting "Nuclear Lifecycle Innovation Campuses" within their territory. These campuses could be used as sites for advanced nuclear reactors, as well as for "nuclear fuel lifecycle" activities, including "fuel fabrication, enrichment, reprocessing used nuclear fuel, and disposition of waste."
They might also host advanced manufacturing and data centers, making use of the power from the reactors.
The RFIs must be submitted by April 1, 2026.
What does this mean for Oklo stock?
In reporting on the announcement, CNBC observed that a single such Innovation Campus "could attract $50 billion in capital investment from the private sector." That's a big number that might at first glance excite Oklo investors, except for one thing:
There's no mention of Oklo at any point in the announcement. There's also no mention of any federal (or state) funds being allocated to subsidize these campuses. For now, at least, the implication seems to be simply that the government is looking for states to allocate land, months or years in the future, and for companies (like Oklo) to invest money in building nuclear facilities on that land.
Granted, Oklo might eventually want to take advantage of this opportunity. But if it does so, it looks like it's going to be on its own dime.
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Rich Smith 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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