NuScale’s Revenue Plunged 99% Last Quarter, But the Stock Has Gained 1% So Far.
Here’s What Investors Need to Know
Yesterday, Aug. 5, NuScale Power (NYSE:SMR) reported what, on the surface, looked like a brutal quarter. Its net loss came in at about $50 million, while its second-quarter revenue sank 99%, from roughly $8 million reported a year ago to about $75,000. It’s the kind of quarterly report that can sink a stock at market open.
And yet, as of this writing at about 10:45 a.m. ET, NuScale was up nearly 1%. What kind of wizardry sends a nuclear energy stock higher after a revenue collapse of nearly 99%?