URGENT: Black Friday Flash Sale! (95%) Off

For the first time this year, we're allowing you to unlock a lifetime subscription to Behind the Markets and receive 6 exclusive reports at the biggest discount we've ever given. But there's a catch - You only have until midnight on Monday, December 2nd to accept it.

Nuclear Stocks Are Tumbling Monday: What's Going On?

Adam Eckert
November 04, 2024

Nuclear stocks are trading lower across the board on Monday after regulators rejected Talen Energy Corp’s (NASDAQ:TLN) plans to increase power for an Amazon.com Inc (NASDAQ:AMZN) data center.

What Happened: The Federal Energy Regulatory Commission (FERC) on Friday rejected Talen Energy’s request to increase how much power its Susquehanna nuclear plant in Pennsylvania can provide to Amazon Web Services.

According to a CNBC report, Talen Energy sold a data center campus to Amazon in March for $650 million. The company had filed a request to increase the power dispatched to the facility from 300 megawatts to 480 megawatts, but FERC shot it down, saying the arrangement could have “huge ramifications” on grid reliability and consumer costs.

Talen issued a statement in response to the order rejecting its amended plans, saying it believes FERC “erred” in its decision. The company noted that it’s evaluating its options with a focus on commercial solutions.

“We believe this ISA amendment is just and reasonable and in the best interest of consumers. FERC’s decision will have a chilling effect on economic development in states such as Pennsylvania, Ohio, and New Jersey,” the company said in the statement.

Talen noted that the existing agreement allows for 300 MW of co-located load at Susquehanna. Despite the rejected amendment, Talen said it can still proceed with development of the first phases of the Amazon Web Services data center campus using the 300 MW while it continues to pursue approval of an amended agreement.

See Also: Iran Flexes Nuclear Muscle, Threatens US With ‘Tooth-Breaking’ Retaliation

Several nuclear stocks are falling Monday after rallying over the past month. Constellation Energy Corp (NASDAQ:CEG) and Vistra Corp (NYSE:VST) were down 10.5% and 2.2%, respectively, in sympathy with Talen.

Oklo Inc (NYSE:OKLO), which is chaired by OpenAI’s Sam Altman, has been one of the most popular nuclear plays in recent weeks. It was down 6.65% at $20.22 at the time of writing.

Other small modular reactor (SMR) companies like NuScale Power Corp (NYSE:SMR) and Nano Nuclear Energy Inc (NASDAQ:NNE), were also trading lower, down 2.5% and 10.2%, respectively.

Nuclear fuel names have also seen increased attention in recent weeks. Shares of uranium fuel producer Cameco Corp (NYSE:CCJ) were down more than 2% at the time of writing. Shares of Lightbridge Corp (NASDAQ:LTBR), a nuclear fuel technology company, were down 1.93% at last check.

Shares of ASP Isotopes Inc (NASDAQ:ASPI), which signed a deal with Bill Gates-backed TerraPower last week and has seen increased attention across social platforms in recent weeks, were down about 14% at the time of writing.

The VanEck Uranium And Nuclear ETF (NYSE:NLR) was down 3.22% and the Global X Uranium ETF (NYSE:URA) was down 2.37% in afternoon trading Monday.

Despite Monday’s pullback, nuclear stocks are still up significantly over the past month driven by an increased focus on nuclear from hyperscalers aiming to keep up with the rising energy demands of data centers related to the AI boom.

Read Next:

Photo: Shutterstock.

Continue Reading...

Popular

Warren Buffett Says Parents Should Do This One Thing Before They Die, Whether They Are Rich Or Not

Legendary investor Warren Buffett has a piece of critical advice for parents that he believes they should follow, regardless of their wealth status.

Joe Rogan Says Harris Avoided Podcast Due To One Issue

Joe Rogan opened up about the reasons why an interview with Kamala Harris before the 2024 election never happened.

Is Traditional Investing on Life Support? - Ad

Despite the biggest bull market in history, JP Morgan says most investors have made only 2.9% a year over the last 20 years. As a result, Americans who rely on traditional investing don't have enough for retirement. Millionaire-trader Jeff Clark turned his back on the stock market, and began using a "Magic Pattern" to generate potential gains of 227%, 333%, even 490% in 25 days.

Mississippi Gulf Coast restaurant and its co-owner are sentenced for mislabeling seafood

GULFPORT, Miss. (AP) — A Mississippi Gulf Coast restaurant and its co-owner it were sentenced Monday on federal charges of as local premium fish.

Has the Tech Stock Selloff Finally Arrived? - Ad

After soaring over 150% in 2024 alone... is it actually time to buy Nvidia? A 50-year Wall Street veteran gives his answer to Nvidia, right here...Including the name and ticker of one under-the-radar AI stock to buy instead of Nvidia... before Tuesday, December 3rd.

Gold is suddenly not so glittery after Trump's White House victory

NEW YORK (AP) — After ripping higher for much of this year, the price of gold has suddenly become not so golden since Donald Trump's victory in the presidential election.

The Psychology of Retirement Income: From Saving to Spending

The narrative of a miserly, Scrooge-like figure hoarding his wealth for years instead of enjoying his retirement might seem unbelievable—but unfortunately, it isn’t relegated only to fiction. It’s a cold reality for many retirees.

What Does Trump's Presidency Mean for Elon Musk's AI Venture? - Ad

As new allies, Trump and Musk could reshape America's AI future. Elon Musk's AI startup, xAI, might gain the edge it needs to dominate the industry. A shift in government support, fewer barriers, and a potential "backdoor" into the AI race are just the beginning. Is xAI set to become Elon's most powerful venture yet?

Georgia Election Workers Demand Giuliani Be Held In Civil Contempt

Ruby Freeman and Wandrea "Shaye" Moss have filed a motion in federal court demanding that Rudy Giuliani be held in civil contempt.

Chinese hackers target Tibetan websites in malware attack, cybersecurity group says

BANGKOK (AP) — A hacking group that is believed to be has compromised two websites with ties to the Tibetan community in an attack meant to install malware on users' computers, according to findings released Wednesday by a private cybersecurity firm.

Discover the $2 Stock That Has Institutional Attention - Ad

With a $1.3B market cap and forecasts to grow 2X faster than the sector, dozens of investment banks are betting big. Strong leadership, cash on hand, and a $3 target make it a must-see.

Austria says Russia's Gazprom will cut off natural gas supply this weekend

VIENNA (AP) — Russia’s state-owned natural gas company Gazrom will cut off supplies to Austria’s OMV utility early Saturday, Austria’s chancellor said, adding that his country’s underground gas storage was full and that it had alternative, non-Russia supplies.

Man who stole and laundered roughly $1B in bitcoin is sentenced to 5 years in prison

WASHINGTON (AP) — A computer expert who stole worth billions of dollars at current prices — and then spent years laundering some of the hacked cryptocurrency with help from his wife — was sentenced on Thursday to five years in prison.

Why Do So Many Billionaire Investors Seem Scared of This Bull Run? - Ad

Well-connected billionaires like Warren Buffett have been selling off US stocks at an alarming rate. Today, one of America's most trusted market experts is stepping forward to explain what's really going on behind the scenes of this bull market - and why you could soon face losses of 50% or more if you do nothing.

Biden's public lands director named to lead environmental group

BILLINGS, Mont. (AP) — A senior official in President Joe Biden's administration who oversaw its contentious efforts to by curbing oil drilling on federal lands while expanding was named Tuesday as the next president of a prominent environmental group.

Leavitt Set To Become Youngest-Ever White House Press Secretary

Karoline Leavitt, at 27, will become the youngest-ever White House press secretary in Donald Trump's next administration.

As Dangerous As Covid-19? - Ad

Experts from Harvard, MIT, and Stanford have warned THIS could be as dangerous as the COVID-19 pandemic. But it isn't a health pandemic. It's a financial "disease" that has already infected the US economy. Soon, the symptoms will show, potentially destroying your retirement dreams forever. Today, a former Trump advisor is stepping forward to reveal the truth.

Dogecoin Is 'Harder Money' Than Bitcoin, Says Raoul Pal: Here's What The Numbers Say

Dogecoin (CRYPTO: DOGE) rallied 17% over the past week, spurred by speculation around Elon Musk's X Payments platform potentially incorporating DOGE.

Businesses at struggling corner where George Floyd was killed sue Minneapolis

MINNEAPOLIS (AP) — Several business owners at the struggling corner where by a Minneapolis police officer in 2020 are suing the city to demand it take over their properties and compensate them.

Elon's New Tech Could Be Bigger Than Tesla & SpaceX... Combined - Ad

Forget rockets or brain implants... Elon's new AI product could be his biggest invention yet. Jeff Brown tried it himself recently and caught his experience on camera. See this footage because according to Tesla Magazine, this new product "could well shape the technological and economic future of our society."

Michigan State engineering prof, student design helmet inserts to help drown out crowd noise for QBs

EAST LANSING, Mich. (AP) — The sight was a common one for Andrew Kolpacki. For many a Sunday, he would watch NFL games on TV and see quarterbacks putting their hands on their helmets, desperately trying to hear the play call from the sideline or booth as tens of thousands of fans screamed at the tops of their lungs.

Firm Issues Rare "All In" Buy Alert on $6 Gold Stock - Ad

The bull market in gold is just getting started...In fact, many top analysts are predicting gold could go much, much higher. But you should NOT just rush out and buy gold bars or coins. We've found a gold play that's much better...And priced at $6 today, this stock has tremendous upside potential as the price of gold continues to rise.

UK economic growth slows down sharply in the third quarter

LONDON (AP) — U.K. economic growth slowed down sharply in the third quarter of the year, official figures showed Friday. The Office for National Statistics said growth during the July to September period was just 0.1%. That was lower than the 0.5% recorded in the and below market expectations for 0.2%.

The ruble's in a slump. For the Kremlin, that's a two-edged sword

Russia's ruble is sagging against other currencies, complicating the Kremlin's efforts to keep consumer inflation under control with one hand even as it overheats the economy with spending on the with the other.

Wall Street Warns: Stocks Could Be "Dead Money" for Next 10 Years - Ad

Well-connected billionaires like Warren Buffett have been selling off US stocks at an alarming rate. Today, one of America's most trusted market experts is stepping forward to explain what's really going on behind the scenes of this bull market - and why you could soon face losses of 50% or more if you do nothing.

Trump's treasury pick could give an indication of what he plans to do about tariffs

WASHINGTON (AP) — President-elect Donald Trump’s decision on a treasury secretary is about far more than whose name will be printed on America’s money.

What to know about the plastic pollution treaty talks in South Korea

A last round of negotiations on a to address the global scourge of plastic pollution has opened in . Here's what to know about it:

Could Elon Launch a $100 Billion "Super IPO" This Year? - Ad

Elon Musk has become Trump's most trusted advisors. According to one legendary investor...We are leading up to the world's first "Super-IPO" -- a company creating over $100 billion on the first day it goes public! Knowing about this "backdoor" play could be the best way to profit before the IPO... Starting with as little as $50.

Shopping on Shein and Temu for holiday gifts? You're not the only one.

Shopping on can feel like playing an arcade game. Instead of using a joystick-controlled claw to grab a toy, visitors to the online marketplace maneuver their computer mouses or cellphone screens to browse colorful gadgets, accessories and trinkets with prices that look too good to refuse.

Trump's incoming chief of staff is a former lobbyist. She'll face a raft of special interests

WASHINGTON (AP) — As incoming White House chief of staff, one of ’ vexing challenges will be policing the buffet line of powerful interests who want something from Donald Trump.

Why Is This Bull Run Scaring JP Morgan, Goldman Sachs, and Warren Buffett? - Ad

Billionaires Warren Buffett, Stanley Druckenmiller, and David Tepper have all sold off massive U.S. stock positions. Billionaire Ray Dalio, who runs one of the world's most successful hedge funds, says, "Things are going to get worse for our economy." What are these billionaires so worried about?

Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom

Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue.

Ransomware attack on software supplier disrupts operations for Starbucks and other retailers

NEW YORK (AP) — A ransomware attack that hit a major software provider last week caused disruptions for a handful of companies over recent days, from Starbucks to U.K. grocery giant Morrisons.

This $2 Stock Outshines Historic Gold Rally! - Ad

Gold has soared 25% in the last 6 months, but this young company has more than doubled that return. With a price target nearly double its current value, it's caught the eye of 40+ investment banks and funds. Discover the name of this standout company today and see why it's a potential gold mine for investors.

In South Korea, nations meet in final round to address global plastic crisis

Negotiators gathered in Busan, South Korea, on Monday in a final push to create a treaty to address the global crisis of plastic pollution.

Long-Term Study Reveals Cannabis May Slow Cognitive Decline: Everything You Need To Know

A Danish study found no link between cannabis use and cognitive decline in men over decades, challenging common myths.

How Musk & Trump Could Launch These Stocks Higher - Ad

Tesla (TSLA) stock has surged. But the real opportunity? Musk's AI venture, xAI. With Trump's presidency, xAI could soon lead the AI race, backed by strong government connections and fewer regulatory barriers. This powerhouse collaboration could fuel massive growth in the AI sector, and xAI may become Elon's biggest company yet.

'Busiest Thanksgiving ever': How the TSA plans to handle record air travel

DALLAS (AP) — Just as there are good odds the turkey will taste dry, airports and highways are expected to be jam-packed week, a holiday period likely to end in for air travel in the United States.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright smartmoneytrading.net
Privacy Policy | Terms of Service