Shares of NuScale Power (SMR) experienced a significant pre-market plunge on Thursday, dropping 5.45% following a reiterated Sell rating from Wells Fargo analyst Neil Kalton. The downward movement comes as investors react to the negative sentiment expressed in the analyst report released the previous day.
Wells Fargo's decision to maintain its Sell rating on NuScale Power suggests continued skepticism about the company's near-term prospects. While the specific reasons for the rating were not detailed in the available news, such analyst actions often reflect concerns about a company's financial performance, market position, or industry challenges.
The pre-market decline indicates that investors are taking the Wells Fargo report seriously, potentially reassessing their positions in NuScale Power. As the trading day progresses, it will be interesting to see if the stock can recover from this early setback or if the negative sentiment will persist, potentially leading to further declines in the regular trading session.
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