Oklo Stock Jumps 11% as US-Canada Trade Tensions Fuel Nuclear Rally
TLDR
- Oklo stock rose 11.41% to $44.22 Tuesday, driven by a broad nuclear sector rally
- Ontario Premier Doug Ford threatened to cut U.S. access to Canadian uranium and nickel
- The threat pushed uranium spot prices to a seven-month high
- Oklo’s Groves Isotope Test Reactor also hit first criticality on private land, a key milestone
- The company holds around $3 billion in cash and marketable securities but remains pre-revenue
Oklo stock surged Tuesday as two separate catalysts hit at the same time, sending the advanced nuclear developer up 11.41% to $44.22.
The bigger macro driver was a sharp escalation in US-Canada trade tensions. Ontario Premier Doug Ford threatened to cut off U.S. access to high-grade nickel and refined uranium from Ontario, home to Cameco’s Blind River refinery, the world’s largest commercial uranium refining facility.
That threat sent uranium spot prices to a seven-month high and triggered a coordinated rally across the domestic nuclear supply chain.
Investors quickly pivoted to U.S.-based nuclear names, viewing domestic developers as the natural beneficiaries of any supply disruption from Canada.
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