Cathie Wood and her Ark Invest funds decided to trim positions in two nuclear plays on Friday, as nuclear-related stocks soared broadly. President Donald Trump provided the impetus for the rally, signing executive orders to ease regulations for new nuclear reactors, while enhancing fuel supply chains.
Wood's ARK Autonomous Tech ETF on Friday sold 97,238 shares of the nuclear-power startup Oklo for an estimated $4.75 million, according to Wood's ETF daily trade disclosures. Ark Invest also unloaded 33,110 shares of uranium refiner Cameco for about $1.94 million, based on Friday's closing price.
Nuclear-related stocks rallied in early stock market action on Friday, following a Reuters report late Thursday that the Trump executive orders would be signed.
Trump Nuclear Executive Orders Send Oklo, S&P 500 Giants Higher
Oklo stock soared 10.2% higher while Cameco stock advanced 3% during Tuesday's stock market.
Following last week's stock market trade, Texas-based utilities play NRG Energy is also now the top performer in the S&P 500 index, rallying 75% on the year. NRG Energy has looked to capitalize on the expected increase in energy demand from AI. The company's power generation portfolio primarily consists of natural gas and coal.
Fellow S&P 500 component Constellation Energy was Friday's IBD Stock Of The Day.
Trump's Nuclear Executive Orders
Wood's decision to sell Oklo and Cameco on Friday came as Trump signed executive orders to support the nuclear energy sector and put in place a "total and complete reform" of the Nuclear Regulatory Commission, or NRC. The executive orders also look to speed up the deployment of new nuclear power reactors in the U.S.
Trump's executive orders require the NRC to decide on nuclear reactor licenses within 18 months.
The executive orders from the Trump White House also create a regulatory framework for the departments of Energy and Defense to build nuclear reactors on federal land. White House officials told reporters Friday that this "allows for safe and reliable nuclear energy to power and operate critical defense facilities and AI data centers." The Trump executive orders also target increased U.S. uranium mining and look to expand domestic uranium enrichment capacity.
Cathie Wood On Nuclear Stocks
Wood and Ark Invest first invested in Oklo in July 2024, beginning to build a stake in the company with OKLO stock price below 9. Meanwhile, Wood started selling Oklo shares in January, and repeatedly purchased Cameco.
Oklo is looking to bring its first commercial small modular reactor, or SMR, online in late 2027 or early 2028. The nuclear-startup spiked 23% to 48.87 on Friday, hitting an intraday high of 52.17.
Oklo closed Tuesday up nearly 127% in May. For the 2025 stock market, Oklo stock has gained 154%.
OKLO is also now about 9% below its all-time high of 59.14, which it hit on Feb. 7. The stock jumped 101% in 2024. But the gain masked some wild gyrations.
Oklo Stock Soars After First-Quarter Earnings; OpenAI Deal Potential
Wedbush Securities analyst Dan Ives on Friday raised his price target on Oklo to 55, from 45.
"The Trump Administration, including Energy Secretary Chris Wright has already signed some executive orders showing its commitment to nuclear energy but the E.O. that will be signed on Friday is expected to be a significant tailwind for the industry with OKLO being the one of the main beneficiaries as support from the U.S. Government has gained significant traction since the Trump Administration took over in the past few months," Ives wrote Friday.
Uranium Miners And The Trump Orders
Meanwhile, uranium refiner Cameco jumped 11% to 58.69 in Friday's stock market trade. The Saskatoon, Saskatchewan-based outfit is one of the world's largest providers of uranium. Utilities around the globe rely on the company to provide nuclear fuel. The company also has direct exposure to SMR nuclear technology through its shared ownership of Westinghouse.
Ives added early Friday that nuclear-related stocks NuScale Power, Lightbridge, Centrus Energy, Energy Fuels, Cameco and Uranium Energy are "other beneficiaries of this executive order."
Along With Cathie Wood-backed Cameco, Centrus Energy soared 21.6% higher on Friday. Fellow uranium mining and exploration plays Uranium Energy stock and Energy Fuels stock surged 25% and 2o%, respectively on Friday.
Please follow Kit Norton on X @KitNorton for more coverage.
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