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A Nuclear Stock to Consider Even After Rallying 200%

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Those who have been reading my contributions here for a while will know that I am not really a momentum guy. By training and nature, I am more of a contrarian. I like to look for bargains and hate the idea of buying something that has already risen significantly. In that case, the value has usually gone completely, and I would hate to be the last one in, who buys at the top. There are times, though, when a stock that has been flying upwards has done so for a reason, and that reason suggests that there is further to go in the move.

That is the case with NuScale Power Corporation (SMR).

SMR has risen close to 200% in the last three months. That would usually be a disqualifier for me. In fact, it would be a sell signal, making the stock something I might look to short. In this case, though, there are reasons why I think this may be just the beginning.

The company makes what are essentially small-scale nuclear reactors that produce power for specific uses. That is a fascinating business, promising its customers some degree of independence from the grid, which is something that is increasingly attractive as awareness of vulnerability to a cyber attack and other potential issues increases. It is, though, capital intensive, but the big move has been spurred by some news that alleviates that situation somewhat. The US Government recently announced that it is investing $900 million in nuclear power, and specifically the modular reactors that are NuScale’s business,…





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