President Trump signed executive orders Friday aimed at expanding the production of nuclear energy and easing the regulatory process on approvals for new nuclear reactors.
Stocks related to nuclear power and uranium production have been surging after Reuters reported late Thursday that the executive orders were coming: Lightbridge (LTBR) +43%, Nano Nuclear Energy (NNE) +31%, Oklo (NYSE:OKLO) +28.1%, Uranium Energy (UEC) +25.5%, Centrus Energy (LEU) +24.5%, Energy Fuels (UUUU) +19.6%, NuScale Power (SMR) +18.3%, NexGen Energy (NXE) +14.7%, ASP Isotopes (ASPI) +13.6%, Denison Mines (DNN) +11.3%, Cameco (CCJ) +10%, BWX Technologies (BWXT) +9.9%, Constellation Energy (NASDAQ:CEG) +2.1%, Vistra (VST) +2.1%, Talen Energy (TLN) +1.7%, NRG Energy (NRG) +1.6%.
Constellation Energy (NASDAQ:CEG) CEO Joseph Dominguez and Oklo (NYSE:OKLO) CEO Jacob DeWitte accompanied Trump and spoke at the signing event.
The orders are intended to reform nuclear energy research at the U.S. Department of Energy, clear a path to allow the DoE to build nuclear reactors on federally-owned land, overhaul the Nuclear Regulatory Commission, and expand uranium mining and enrichment in the U.S.
Licensing for reactors in the U.S. can take more than a decade, a process designed to prioritize nuclear safety but which has discouraged new projects.
"We're wasting too much time on permitting, and we're answering silly questions, not the important ones," Dominguez said at the event
