Oklo Stock Hits a New 52-Week Low: Time to Buy?
Shares of clean energy company Oklo (NYSE:OKLO) are down big this year — 55%. While the stock market has been doing well, Oklo’s stock has been going in the opposite direction.
Many growth investors see significant growth potential for Oklo and believe it can benefit from opportunities related to investments in data centers for artificial intelligence (AI), which need reliable power sources. But that optimism appears to have faded, with the stock hitting a new 52-week low on Tuesday, at just above $31, a level it hasn’t been at since May of last year.
The growth potential is still there for Oklo, but now its valuation is much lighter, with its market cap at just under $6 billion. Could now be an opportune time to buy this beaten-down energy stock?
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.