Nuclear stocks are rising on the back of the AI boom.
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Benzinga's PreMarket Prep is the #1 go-to source for everything you need to know before the market opens! Join our expert hosts as they break down the latest market trends, analyze key indicators, and provide actionable insights to help you navigate the trading day ahead.
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00:00Continuing on with this whole, you know, obviously AI theme, nuclear has been, you know, maybe
00:06the biggest benefit here in the second half of the year.
00:09We've seen stocks like Constellation Energy, Vistra running, running.
00:14That continues this morning thanks to Google.
00:17So we've got Google coming out and they're talking about going nuclear for their data
00:23centers as well.
00:25And that's got all the nuclear stocks ripping here this morning.
00:28We've got Constellation Energy, CEG up another 10 bucks.
00:31We got Vistra Energy up another $3, up another 3 percent.
00:35CCJ, Cameco in Canada is up another 3 percent here this morning, too.
00:40And then, you know, if you're just looking at uranium, URA is trading higher here.
00:44You had a small one you were talking about, OKLO, which is up 7 percent here this morning.
00:49Yeah, we had some people in the chat talking about this as well.
00:52I believe Jay Woods last week when I saw him was discussing this.
00:54This is a Sam Altman backed nuclear startup that was a SPAC, as you can tell by the chart,
01:01just at $10 forever.
01:02And then obviously Spytire here after it did its merger with OKLO, got all the way down
01:08to around $5.
01:09And it has now just come ripping back in the last two weeks after, you know, this nuclear
01:14story has heated up.
01:15And then remind me, was it Microsoft that announced a deal with Constellation Energy
01:20a couple of weeks ago?
01:21Yes, it was.
01:22That's what kickstarted the CEG rally.
01:25So that's the big gap up you see in the chart, $2.02 to $2.40 in a day.
01:31And then it's consolidated.
01:32If you look at this chart, you know, sometimes technicals do tell a story.
01:36You look at this chart, has a big move, then the consolidation period ahead of the move.
01:41Now it gets a headline to spike it up to new all-time highs here again.
01:47As I always say, you don't want to be shorting stocks making new all-time highs.
01:51It's just not the gig.
01:52It's natural human tendency to want to sell what is strong and buy what is weak.
01:57But I'll tell you, in this market, you're punished for doing that.
01:59You've got to break that human tendency.
02:01You're shorting stocks making new all-time highs, you're asking for problems.
02:05Constellation Energy, with its Google headlines, going to get talked about here today probably.
02:09It's up nine, not saying chase it.
02:11I hate chasing stocks, but I could see this thing continuing on here this morning.