The stock of NuScale Power, a leading nuclear energy company, surged 8.44% in the pre-market session on Tuesday. This significant movement was driven by former President Donald Trump's announcement of plans to declare a national energy emergency and revive domestic oil, gas, and nuclear power production.
Trump's pledge to address inflation and lower energy costs for Americans has raised expectations of a more favorable policy environment for the nuclear energy sector. His proposed actions aim to unleash new oil and gas development on federal lands while rolling back Biden-era climate regulations that have hindered the growth of alternative energy sources.
Investors seem to view Trump's energy emergency plan as a potential boon for companies like NuScale Power, which specializes in innovative small modular reactor technology. The renewed focus on domestic energy production and support for nuclear power could provide a tailwind for NuScale Power's growth and adoption of its advanced nuclear technology.
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