Oklo Stock Hits New All-Time Highs Monday: What's Going On?

Shares of Oklo Inc (NYSE:OKLO) surged to a new all-time high on Monday amid recent operational and regulatory milestones that have bolstered investor confidence. Here’s what investors need to know.

What To Know: The stock’s 100% rally over the past month is backed by a series of key developments that have helped position the company as a leader in the advanced nuclear energy sector.

Last week, Barclays initiated coverage with a bullish Overweight rating and a $146 price target. This was followed with news that the U.S. Department of Energy selected Oklo for three advanced nuclear fuel line pilot projects, a crucial step in building a robust domestic fuel supply.

Further fueling the momentum, the U.S. Nuclear Regulatory Commission accepted Oklo’s principal design criteria for an accelerated review, potentially streamlining the path to licensing its advanced reactors.

Additionally, a new strategic partnership with Sweden’s Blykalla AB aims to speed up the global commercialization of fast reactor technology. These recent successes have helped solidify Oklo’s growth trajectory.

Benzinga Edge Rankings: The stock’s powerful upward price movement is reflected in its exceptional Benzinga Edge Momentum score of 99.61.

OKLO Price Action: Oklo shares were up 12.6% at $143.37 at the time of publication Monday, according to Benzinga Pro.

The stock is trading well above its 50-day ($87.25), 100-day ($70.83) and 200-day ($50.34) moving averages, suggesting a robust upward trend. Key resistance is observed near the 52-week high of $144.49, while support may be found around the 50-day moving average.

Read Also: What’s Driving The Surge In Firefly Aerospace Stock Today?

How To Buy OKLO Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Oklo’s case, it is in the Utilities sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

Image: Shutterstock