NuScale's Nuke Dream: Is This Just Another Stock Market Meltdown Waiting to Happen?
Okay, so NuScale Power (SMR) just took a nosedive, right? Like, a 14% drop after hours. And all the "experts" are chiming in about revenue misses and wider-than-expected losses. Give me a break. It's always the same song and dance.
The Numbers Game: Or, How to Lie With Statistics
Let's dissect this so-called "disaster." Revenue at $8.24 million, FactSet expected $11.1 million. Boo-freaking-hoo. EPS at -$1.85. Oh no, they're losing money? Newsflash: this is a commercialization-stage nuclear company. They ain't exactly printing money selling lemonade, are they?
And then there's the Fluor situation. They're bailing. Or, as the company spin puts it, they're doing a "structured monetization." Right. That’s corporate speak for "we're cutting our losses before this thing goes belly up." They'll convert their Class B units to Class A and start selling it off by Q2 2026. Sounds like a vote of confidence, doesn't it? SMR Stock Today (Nov 6, 2025): NuScale Slides ~14% After Q3 Miss as Fluor Sets Plan to Monetize Stake by Mid‑2026
But wait, there's more! They’re gonna vote in favor of increasing NuScale’s authorized share count. Translation: dilution, dilution, dilution! They need more cash, and they're gonna get it by screwing over existing shareholders.
It’s like watching a slow-motion train wreck, except instead of a train, it's a nuclear reactor... metaphorically speaking, offcourse.
The "AI-Era Baseload Power" Fantasy
NuScale's management is patting themselves on the back because they were selected for some Tennessee Valley Authority program with ENTRA1 Energy. They’re calling it the "largest SMR deployment program in U.S. history," and claiming it reinforces their position in "AI-era baseload power."
AI-era baseload power? What the hell does that even mean? Are they saying that AI is gonna need a whole bunch of tiny nukes to power its insatiable hunger for electricity? Maybe I'm missing something.
Here's the thing: I live in a world where the promise of flying cars remain unfulfilled. So excuse me if I don't get all hot and bothered about small modular reactors being the saviors of the grid.
And let's be real, the only thing "historic" about this agreement is the amount of taxpayer money that's probably going to be wasted on it.
But… who am I kidding? The market eats this stuff up.
The Investor's Dilemma: To Nuke or Not to Nuke?
So, what's an investor to do? The article says SMR remains a "high-beta, commercialization-stage nuclear name benefitting from powerful secular tailwinds." Secular tailwinds? Is that like when the wind blows in the direction of your wallet?
They admit there's "execution and funding complexity." No kidding! Building a nuclear reactor ain't exactly like assembling an IKEA bookshelf.
And the Fluor exit plan? Supposedly it "could ultimately reduce ownership uncertainty." I call BS. It introduces a "managed supply of shares into the market over the next several quarters." That sounds like a slow bleed, not a solution.
I mean, seriously, are we supposed to believe that limiting NuScale’s equity issuance through February 2026 is some kind of investor-friendly move? It just feels like they're trying to put a band-aid on a gaping wound.
NuScale scheduled its Q3 call for 5:00 p.m. ET today. Financing runway, timeline for ENTRA1/TVA milestones, Romania’s RoPower schedule, and how the Fluor sales cadence will be paced. I'd rather watch paint dry.
So, What's the Real Story?
It's a gamble, plain and simple. NuScale is selling a dream, and dreams don't always pay the bills. The stock's gonna track project milestones, share actions, and capital strategy. Meaning, it's gonna be a roller coaster. So, if you've got the stomach for it, go ahead and buy. But don't come crying to me when it all blows up.
