In early 2026, NuScale Power's (SMR 5.13%) stock price is down about 20% from where it started in 2025. At one point, however, the stock was up nearly 200%. As the new year steams ahead, is NuScale Power a buying opportunity, a hard sell, or a hold?
Sell NuScale Power?
Right now, NuScale Power is a money-losing start-up in the nuclear power industry. It is attempting to ink the first sale of a small modular reactor. It is an exciting technology, but until there is a customer, NuScale Power's reactors and manufacturing capabilities are untested. It is difficult to know how big an opportunity there is for the company at this point.
Image source: Getty Images.
Given the company's early stage of development, most investors should probably steer clear. That's especially true if you are a conservative investor. Waiting until the first confirmed sale, if not the first actual reactor delivery, would make the most sense.
Buy NuScale Power?
If you are a risk taker, however, there are reasons to like NuScale Power. Notably, it has two potential sales opportunities ahead: one with a Romanian power company and another in the United States with the Tennessee Valley Authority and ENTRA1 Energy. Neither has yet resulted in a sale, but getting in now would allow you to benefit from the stock price advance that is likely to occur if a sale is announced.
The nearly 200% stock price advance seen in 2025 demonstrates how quickly the stock could move on such news. That said, it is important to note that NuScale Power is really an industrial manufacturing business, since the reactors it makes will be factory-built. The opportunity is long-term, not a one-off event. Still, waiting for the first sale will mean missing out on potentially substantial early gains. Just make sure you are cognizant of the risk of loss if no sales ever materialize before you buy the stock.
NYSE: SMR
Key Data Points
Hold NuScale Power
If you bought NuScale Power when the stock was near its highs, you are probably sitting on material capital losses. You could harvest those losses to offset gains elsewhere in your portfolio. In fact, given the still uncertain nature of the business, unless you really believe in NuScale Power's technology, you might be better off moving on.
All in all, the technology is the real story here. You should only own NuScale Power if you think its reactor technology can support a business over the long term. If not, holding it, or buying it in the first place, probably isn't the right choice for your portfolio.
