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Oklo Stock Drops 10% Amid Insider Selling Spree and Goldman’s Cautious Outlook
Oklo Stock Drops 10% Amid Insider Selling Spree and Goldman’s Cautious Outlook
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BTCCSquare news:
Oklo Inc. shares tumbled more than 10% Thursday after board director Michael Klein sold $6.7 million worth of stock, marking the third major insider transaction in weeks. The nuclear startup, which recently gained attention for its small modular reactor technology targeting AI data centers, now faces mounting skepticism.
Goldman Sachs analyst Brian Lee reinforced bearish sentiment with a Hold rating and $117 price target, citing Oklo's lack of commercial revenue and unsigned power purchase agreements despite a 14 GW pipeline. The timing of insider sales—including CEO Jacob DeWitte's $3 million gift and CFO Craig Bealmear's $9.4 million disposal—suggests executives may be capitalizing on peak valuation.
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