Anyone who bought Oklo (OKLO 3.17%) shares during its initial public offering (IPO) probably thought it was a lost cause. The nuclear energy stock slumped by more than 50% by closing on the day of its listing on May 10, 2024, and remained range-bound for nearly four months after the IPO.
Then came the plot twist.
Oklo finalized an agreement with the U.S. Department of Energy (DOE) in late September 2024, gaining access to a site in Idaho to build and deploy the first commercial advanced fission nuclear power plant in the U.S.
Oklo stock soared, and if you'd invested $10,000 in it one year ago, your money would be worth nearly $57,800 today.
Why Oklo stock could keep going higher
Oklo isn't the only nuclear energy stock that exploded over the past year or so, but this start-up has achieved some big milestones that have driven the momentum in its stock price. For all you know, this could just be the start, as Oklo plans to start its first-ever reactor as early as mid-2026.
Oklo is building fast-fission power plants called Aurora powerhouses. In the past year, Oklo was selected for at least a couple of the DOE's programs, under which it will build nuclear reactors as well as fuel fabrication facilities. Oklo expects to bring at least one of its three reactors online in 2026.
NYSE: OKLO
Key Data Points
Fuel fabrication is particularly significant, as it gives Oklo an edge over rivals. The thing is, fast fission can also run on recycled fuel, saving the time required to enrich uranium. So Oklo can use all kinds of government fuel stockpiles to make nuclear fuel. It recently struck a $2 billion transatlantic partnership with newcleo to build facilities to recycle surplus plutonium and is also investing $1.68 billion to set up an advanced fuel center in Tennessee.
With President Donald Trump issuing executive orders in May 2025 to fast-track the nuclear energy industry in the U.S. and Oklo having the DOE's backing, the nuclear energy stock could run much higher, especially after its recent drop.
