Why Oklo Stock Got Slammed on Monday
Oklo (NYSE: OKLO) a nuclear energy stock that has been popular amid something of a revival of interest in its industry, suffered a setback on Monday. On concerns that it has yet to prove itself as a long-term viable business, essentially, an analyst downgraded his recommendation on the shares. The market as a whole obviously took this to heart, and ended up trading the stock down by 5% on the day. Other titles fared much better, as the bellwether S&P 500 (SNPINDEX: ^GSPC) rose by 1% that trading session.That morning before market open, Craig-Hallum's Eric Stine pulled the switch on the downgrade. Oklo now, for him, is only a hold, at a price target of $59 per share. He previously flagged the stock as a buy. Continue reading
Oklo (NYSE: OKLO) a nuclear energy stock that has been popular amid something of a revival of interest in its industry, suffered a setback on Monday. On concerns that it has yet to prove itself as a long-term viable business, essentially, an analyst downgraded his recommendation on the shares.
The market as a whole obviously took this to heart, and ended up trading the stock down by 5% on the day. Other titles fared much better, as the bellwether S&P 500 (SNPINDEX: ^GSPC) rose by 1% that trading session.
That morning before market open, Craig-Hallum's Eric Stine pulled the switch on the downgrade. Oklo now, for him, is only a hold, at a price target of $59 per share. He previously flagged the stock as a buy.
