Oklo Shares Dip as Fluor’s NuScale Move Sparks Profit-Taking Concerns

Oklo Inc. (OKLO) fell 4% midday Friday amid broader market reactions to Fluor Corporation's strategic shift in its NuScale Power holdings. The nuclear engineering firm announced plans to convert 15 million Class B NuScale shares to Class A—a MOVE designed to reduce earnings volatility by monetizing its position in the small modular reactor developer.

While Oklo remains operationally unaffected, investors appear to be extrapolating Fluor's actions as a potential signal to lock in gains across the nuclear sector. NuScale's 485% annual rally pales beside Oklo's 835% surge, raising questions about valuation sustainability in this speculative corner of the energy market.

The selloff reflects classic sector contagion—when one player's corporate action triggers reflexive trading in peers. With neither company currently generating revenue, market psychology now outweighs fundamentals in driving these volatility-prone names.