We recently compiled a list of the Why These 10 Stocks Are Skyrocketing. In this article, we are going to take a look at where Oklo Inc. (NYSE:OKLO) stands against the other stocks that are skyrocketing.
Wall Street saw a quiet trading session this week amid the lack of major catalysts to perk up the market. Despite an overall thin trading volume, 10 companies managed to outperform and mirror gains of all major indices.
To come up with the Top 10 Gainers this week, we focused on stocks that have at least $2 billion in market capitalization and $5 million in daily trading volume.
Let’s take a look at Oklo Inc. (NYSE:OKLO) and how it has performed so far.
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Oklo Inc. (NYSE:OKLO)
Shares of Oklo Inc. (NYSE:OKLO) rallied by 8.5 percent in the first two days of the week, ending at $23.61 apiece from $21.75.
Various analysts posted confidence in Oklo’s growth prospects following news that the company will power 12 gigawatts of Oklo Aurora powerhouse projects by 2044.
Several analysts also gave the company an “outperform” rating, indicating confidence in nuclear power startups’ momentum in 2025 and its ability to benefit from the booming AI technology.
Electricity demand from US data centers has grown by 50 percent since 2020 and now accounts for 4 percent of the country’s energy consumption. According to UBS analysts in a recent research note, the figure could still grow to 9 percent by 2030.
In addition, overall power demand in the United States is expected to grow between 13 percent and 15 percent a year until 2030, potentially turning electricity “into a much scarcer resource.
Overall, OKLO ranks 3rd on our list of stocks that are skyrocketing. While we acknowledge the potential of OKLO as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than OKLO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.