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NuScale (NYSE: SMR), a developer of small modular reactors (SMRs), went public through a merger with a special purpose acquisition company (SPAC) on May 3, 2022. Its stock opened at $10.70 per share and eventually rose to a record high of $53.43 on Oct. 15, 2025.
At the time, investors were excited about the growth potential of NuScale's SMRs, which are much smaller than conventional nuclear reactors. They're prefabricated and assembled on-site to reduce the time, labor, and costs of deploying a nuclear power plant. NuScale's SMR generates only 77 MWe, whereas a conventional nuclear plant typically generates over 1,000 MWe. However, multiple SMRs can be deployed together to construct higher-capacity plants.
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But today, NuScale's stock trades at about $10. Its shares pulled back because it canceled its flagship U.S. commercial deployment project in Idaho in 2023, delayed its first commercial reactor deployments in Romania from 2030 to 2033, and racked up steep losses. Fluor (NYSE: FLR), which had worked with NuScale in Romania and owned more than half of NuScale's shares before its public debut, also liquidated its entire position earlier this year.