We recently published a list of 10 Firms Mirror Wall Street Slump on Thursday. In this article, we are going to take a look at where Oklo Inc. (NYSE:OKLO) stands against other firms that mirrored Wall Street slump on Thursday.
Wall Street’s shares traded lower anew on Thursday, as investor sentiment continued to be dampened by President Donald Trump’s fresh tariffs on US imports.
The tech-heavy Nasdaq fell the heaviest, down 0.53 percent, followed by the Dow Jones at 0.37 percent, and the S&P 500 at 0.33 percent.
The market decline was mainly weighed down by the performance of car manufacturers after Trump announced a 25-percent tariff on all vehicles imported beginning April 2.
Ten companies mirrored the broader market decline. In this article, we listed Thursday’s 10 worst performers and detailed the reasons behind their drop.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume.
An aerial view of a power plant, symbolizing the company’s investments in energy infrastructure sector.
Oklo shares fell for a third consecutive day on Thursday, slashing 9.67 percent to end at $23.82 apiece as investors sold off positions amid the pessimistic market environment, shunning fresh developments in the company’s operations.
In a statement, OKLO said it successfully raised the potential capacity of its Aurora Powerhouse reactor to 75 megawatts from 50 MW to meet the continued growth in demand from data centers.
According to the company, the higher capacity was a “customer-informed design decision” based on “where we see … the data center architectures progressing.”
In its latest earnings results, OKLO said net loss widened by 129 percent to $73.6 million last year from $32.17 million in 2023, amid a 183-percent jump in operating losses to $52.8 million from $18.6 million year-on-year.
Despite the performance, OKLO said it was optimistic about its business outlook for the year.
Overall, OKLO ranks 6th on our list of firms that mirrored Wall Street slump on Thursday. While we acknowledge the potential of OKLO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as OKLO but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
