NuScale Power's stock plummets 83%, $10,000 investment now worth $1,650

A $10,000 investment in NuScale Power made at its 52-week high of $57.42 last October is now worth approximately $1,650, as the stock trades near $9.50. This represents a staggering loss of about 83% in less than a year. The decline has not been constant; shares initially rose above $16 before peaking over $20, only to plummet significantly since then.

The drop in NuScale's stock price coincides with a dramatic fall in revenue. The company reported just $75,000 in revenue for the second quarter, a sharp decline from $8.1 million in the same period last year. This revenue was primarily derived from engineering fees linked to a project in Romania that concluded in late 2025, and no new contracts have been signed to replace it. Compounding these issues is a marked increase in the share count, which has ballooned from approximately 133 million to about 365 million over the past year. As part of its ongoing efforts to raise capital, NuScale filed on August 11 to sell up to $750 million more in stock.

Despite these challenges, NuScale remains the only small modular reactor (SMR) developer with a design certified by U.S. regulators. The company has made progress, including receiving updated design approval from regulators in May 2025 and establishing a supply chain with over 60 partners. However, potential contracts, such as a power purchase agreement with the Tennessee Valley Authority, remain under discussion and have not yet materialized.

NuScale's market value stands at approximately $4.1 billion, despite trailing revenue of only about $10.7 million. This valuation suggests that the market is holding out hope for future orders to justify the current stock price. Until concrete contracts are signed, the viability of NuScale's investment case hangs in the balance. Investors are left to ponder whether the company can turn its fortunes around as it navigates a challenging landscape for nuclear energy development.