TLDR
- Oklo Inc. (NYSE:OKLO) shares jumped over 20% to a record $193.80, pushing the stock up 1,635% over the past year and 697% since January 2025.
- Jim Cramer claims traders are driving OKLO shares higher just to “spite” him after he called the stock “a dog” and told viewers not to touch it.
- The company was selected for the U.S. Department of Energy’s Advanced Nuclear Fuel Line Pilot Project to develop fuel-fabrication facilities.
- Oklo remains pre-revenue with a $28 million quarterly operating loss and $65-80 million projected annual cash burn.
- Canaccord Genuity initiated coverage with a buy rating and $175 price target, citing Oklo’s leadership in small modular reactor technology.
Oklo Inc. shares hit a record high of $193.80 on Wednesday after climbing over 20%. The company’s market value now sits around $25.74 billion despite having zero revenue.
The stock has jumped 1,635% over the past 12 months. Since January 2025 alone, shares have gained 697%.
Jim Cramer has become a vocal critic of Oklo throughout the year. On a recent Mad Money episode, he said traders are pushing the stock higher just to irritate him.
“Oklo’s now up two. They’re doing this to spite me,” Cramer said. He claims some traders watch his show and deliberately move stocks he criticizes.
Cramer previously called Oklo “a dog” in late September. He warned viewers not to touch the stock, despite briefly changing his stance earlier in the year.
The Mad Money host suggested traders move certain stocks at 3:30 AM when there’s no resistance. He believes they’re trying to prove him wrong.
Canaccord Genuity kicked off coverage with a buy rating and $175 price target. The firm pointed to Oklo’s position in small modular reactor technology as a key strength.
DOE Selection Drives Latest Rally
The U.S. Department of Energy selected Oklo for its Advanced Nuclear Fuel Line Pilot Project. The program aims to develop three fuel-fabrication facilities to boost domestic nuclear capacity.
Oklo will work with three other companies to build and operate next-generation fuel plants. The DOE endorsement gave the stock a major boost last week.
Shares jumped 11% last Thursday to $128.80 on the announcement. The rally continued into this week with fresh record highs.
The company is also part of the DOE Reactor Pilot Program. This initiative supports small-scale nuclear deployment across the country.
Oklo has lined up several partnerships that strengthen its federal ties. The company signed a clean-energy supply contract with the U.S. Air Force.
A $1.68 billion nuclear fuel-recycling facility is planned for Oak Ridge, Tennessee. The project should create 800 jobs by the early 2030s.
Negotiations are underway with the Tennessee Valley Authority to expand fuel-recycling capacity. The talks focus on building domestic supply chains.
The U.S.-U.K. Atlantic Partnership for Advanced Nuclear Power also backs Oklo. This multi-billion-dollar initiative aims to speed up low-carbon nuclear technologies.
Price Swings Show Market Uncertainty
The stock’s path hasn’t been smooth. After a 67% September rally pushed shares above $144, the price dropped 17% to below $110.
The DOE news triggered a quick rebound to $146.40, then $174. These sharp moves show how sensitive the stock is to news about nuclear policy and funding.
Market reactions remain intense to any hint of progress or delays. Oklo’s valuation depends heavily on sentiment around government support and regulatory approvals.
Oklo posted a $0.18 per share loss in the second quarter of 2025. The loss was bigger than analysts expected due to heavy R&D spending.
Integration costs from the Atomic Alchemy acquisition also weighed on results. The company burned through cash at a rate that raised eyebrows.
Quarterly operating losses hit $28 million. Annual cash burn is projected at $65-80 million as the company develops its technology.
The company holds $683 million in cash from recent capital raises. But with no revenue coming in, that money is flowing out steadily.
Analysts warn that regulatory delays could push back revenue-generating projects. Extended timelines would increase development costs and potentially force more fundraising.
Additional capital raises could mean equity dilution for current shareholders. New debt could also weigh on future returns if the company needs more funding.
Oklo’s market cap of $25.74 billion stands in stark contrast to its financials. The company has no commercial products in operation yet.
