What's Going On With Oklo Stock?
Portfolio Pulse from Henry Khederian
Oklo Inc (NYSE:OKLO) shares fell 3% to $8.41 amid a broader tech sector decline, now down about 60% from their peak of $15.70 after the IPO. The company, which went public in May through a merger with AltC Acquisition Corp, received $306 million in gross transaction proceeds to supply clean energy to various sectors. Oklo does not pay a dividend but may return value through other capital allocation programs.
July 25, 2024 | 9:03 pm
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Oklo Inc shares fell 3% to $8.41 amid a broader tech sector decline. The company is down about 60% from its peak of $15.70 after the IPO. Oklo, which went public in May through a merger with AltC Acquisition Corp, received $306 million in gross transaction proceeds to supply clean energy to various sectors.
The decline in Oklo's stock price is directly tied to the broader tech sector decline. As a company in the tech and clean energy space, Oklo is more susceptible to market movements. The significant drop from its peak indicates investor caution.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100