Why NuScale Power Stock Dropped, Then Popped Today
Shares of NuScale Power (NYSE: SMR) tumbled more than 8% in early trading Friday after missing badly on both sales and earnings in its second-quarter financial update last night -- that's the bad news.
The good news for investors in NuScale is that as the morning wears on, NuScale stock has turned around and is already back in the green, and up 4.4% as of 10:20 a.m. ET.
Low expectations may lie behind the turnaround. Heading into earnings, analysts only expected NuScale to report $6.9 million in sales, and to lose about $0.13 per share for the quarter. The numbers were worse than that -- only $1 million in sales and a loss of $0.31 per share, according to The Fly.
Source Fool.com
