Why Oklo Stock Dropped on Thursday
Oklo just announced it's selling shares and raising cash. Expect more of the same -- for years to come.
Oklo (NYSE: OKLO) stock, one of a handful of new energy companies working to commercialize small modular nuclear reactor technology, tumbled more than 7% early Thursday morning before recovering to about a 1.3% loss as of 12:20 p.m. ET.
The big dive early was sparked by an Oklo announcement last night, in which the company said it will create and sell $400 million worth of new shares of common stock (and potentially, up to $460 million shares if underwriters exercise their overallotment option).
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