Why Centrus Energy Stock Plunged Today
Oklo's big news just torpedoed Centrus stock.
Shares of Centrus Energy (NYSEMKT: LEU), a specialist in enriching uranium for use as fuel in nuclear reactors, tumbled 4.7% through 12:50 p.m. ET Wednesday after one of its partners announced some disconcerting news.
Nuclear power plant start-up Oklo, which had previously signed a memorandum of understanding agreeing to accept high-assay low-enriched uranium (HALEU) supplies from Centrus once its reactors are running, is now teaming up with two other nuclear start-ups. Privately held Hexium and privately held and Bill Gates backed TerraPower, will, along with Oklo, "leverage advanced laser enrichment technology to build a scalable U.S. nuclear fuel supply for advanced reactors."
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