NuScale Power (SMR -11.02%) stock has had a breakout year. Shares are up more than 170% since the start of 2025. It hasn't been a smooth ride for shareholders, though. NuScale stock has plunged about 40% twice just since January.
This week was another turbulent period for the stock. As of late Thursday, NuScale Power shares are 15% off this week's highs, yet still up by 24.2% since last Friday's close, according to data provided by S&P Global Market Intelligence.
Image source: Getty Images.
NuScale Power's Trump tailwind
NuScale has been a big beneficiary of what it calls "multi-billion dollar federal support." Several executive orders signed by President Trump earlier this year have boosted the nuclear power sector. Even prior to the current Trump administration, bipartisan passage of the ADVANCE (Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy) Act of 2024 has helped streamline approvals by the National Regulatory Commission for faster deployment of nuclear power projects.
This week another federal department spurred investors to jump into NuScale Power stock. The U.S. Army announced the launch of the Janus Program. The initiative is meant to fast-track the installation of commercially owned and operated small nuclear reactors to provide energy to domestic military installations.
Investors should be wary of jumping into NuScale stock after this week's surge, though. While it has just begun generating revenue from a Romanian power project, investors have pushed its enterprise value to over $6.5 billion. Consider that revenue for the second quarter was just $8.1 million. Investors who believe in the future of modular nuclear reactors should still consider it a speculative investment.
