Oklo's stock has lost about 80% of its value since last October, and its market value has fallen from a peak of $30 billion to roughly $5 billion. The company generated only about $1.2 million in revenue last quarter, which the article says leaves the valuation high relative to sales. Before it can sell power, Oklo needs regulatory approval for its Aurora powerhouse small nuclear reactor, and it does not yet have a firm date for turning on its first unit. Building the powerhouses is also expected to be costly, potentially pushing electricity prices above what some customers will pay, and nuclear deployment is typically slow. The author therefore expects revenue to stay small until the first reactor is deployed, and says the stock could fall further if investors keep losing patience.
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