NuScale Power has lost 33% of its value over the past two weeks, sliding from highs above $53 to just $35 by Monday morning.

The decline began after NuScale announced an exchange and lock-up agreement with its largest shareholder, Fluor Enterprises.

Under the agreement, Fluor can exchange up to 15 million Class B units for Class A common shares. Although Fluor agreed to not sell any of the exchanged shares for 30 days, and to limit any sales to no more than 5% of daily trading volume through December 31, 2026.

Nonetheless, The headline created immediate dilution concerns and triggered selling across the stock.

That pressure intensified one week later, when the company missed analyst expectations in its August 8 earnings report. The weak results reinforced fears that additional share issuance could weigh on near-term performance.

It’s not just NuScale.
Nuclear-AI stocks across the board have come under pressure after strong performance earlier this summer.

The President’s push to expand nuclear capacity to meet soaring AI-driven energy demand helped turn what was once a niche theme into a mainstream investment story. As the trade became crowded, profit-taking and tactical selling followed.

NuScale’s Technical Outlook

Technically, NuScale is now testing key round-number support at $35.

This level acted as a strong support floor in early July, with shares touching $35 eight separate times without closing below it. That price action ultimately triggered a 50% rally to $53 over the next two weeks.

Investors should watch for a similar technical setup.

With the 50-day moving average still rising, even a small positive catalyst could drive another round of technical buying and short-covering across the SMR group.

From a long-term perspective, NuScale remains structurally constructive. The 200-day and 20-month moving averages are still in bullish trends, signaling continued upside momentum.

Bottom Line:

  • Long-term investors should continue to target $75.
  • Short-term traders can use the stock’s volatility and well-defined support levels to trade around the position as the $35 support area continues to hold.

Chris Johnson

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Source: Money Morning