We recently published These 10 Stocks Surprisingly Lead Gains While Wall Street Naps. NuScale Power Corporation (NYSE:SMR) is one of this week’s top performers.
NuScale Power extended its winning streak to an eighth straight day on Friday to hit a new all-time high, as investors continued to place bets on stocks benefitting the AI boom, thanks to strong backing from President Donald Trump.
At intra-day trading, NuScale Power Corporation (NYSE:SMR) rallied to a new record of $50.88 and maintained in the $50 level toward the end.
Year-to-date, the company has already grown by 184 percent from its $17.93 closing price on the last trading day of December 2024.
On August 8, NuScale Power Corporation (NYSE:SMR) is set to release the results of its earnings performance for the second quarter of the year, where investors will be closely watching for any cues of deals with companies following Trump’s signing of an executive order in May that aims to quadruple the nuclear power industry in the US to 400 GW by 2050.
While we acknowledge the potential of SMR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
