What's Going On With Oklo Stock?

Oklo Inc OKLO shares fell 3% to $8.41 on Thursday, amid a broader tech sector decline. They are now down about 60% from their peak of $15.70 after the IPO.

Being a company in the tech and clean energy space, Oklo may be viewed similarly to other high-growth tech companies. The sharp declines in major tech stocks and related ETFs this week can spill over to related industries, including those like Oklo.

Additionally, companies in niche or emerging sectors, such as Oklo, might see their stock prices react more sharply to broad market movements compared to established companies.

Oklo went public in May by merging with Sam Altman‘s AltC Acquisition Corp. and began trading on the New York Stock Exchange. The event was marked by the announcement of a newly appointed board of directors with Altman serving as chairman.

Oklo received approximately $306 million in gross transaction proceeds, which it plans to use to supply clean, reliable and affordable energy to various sectors including artificial intelligence, data centers, energy, defense and industrial markets.

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Is OKLO A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Oklo‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Oklo does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 11.56%, you'll need to buy a share of Marketing Alliance by the Aug. 9, 2024. Once done, you can expect to receive a nominal payout of $0.05 on Aug. 16, 2024.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized.

Looking through the latest news on Oklo will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

According to data from Benzinga Pro, OKLO has a 52-week high of $15.70 and a 52-week low of $7.05.

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Image created using artificial intelligence via Midjourney.