New York, June 3, 2026, 15:04 EDT
- Oklo was down about 10% at $65.89 in afternoon trading, with volume above 18 million shares.
- A June 2 SEC filing showed 200,000 Class A shares sold on June 1 under a pre-arranged insider-trading plan.
- The move came as nuclear and uranium-linked peers also fell, even while the U.S. fuel-supply story stayed active.
Oklo Inc. shares slid sharply on Wednesday, putting the advanced nuclear developer among the day’s weaker clean-power names after a filing showed planned share sales tied to co-founder and CEO Jacob DeWitte and related entities. The stock traded at $65.89 at 2:49 p.m. EDT, down about 10.3% from the previous close, after moving between $64.11 and $74.12 during the session.
The timing matters. Oklo is not trading like a utility with steady earnings; it is a development-stage nuclear company whose value rests on reactor deployment, fuel access and future power contracts. That makes insider-sale headlines bite harder, even when the trades were scheduled in advance.
The Form 4 filed with the U.S. Securities and Exchange Commission showed sales on June 1 at weighted-average prices from $64.99 to $70.45 a share. “Weighted average” means the filing groups many trades into average prices, with larger trades carrying more weight. The filing said the sales were made under a Rule 10b5-1 plan, a pre-set plan insiders use to schedule trades ahead of time, and listed 571,533 shares held directly by DeWitte after the transactions, plus larger indirect stakes in family trusts. SEC
Benzinga reported that the pullback followed a nearly 9% gain for Oklo on Tuesday and tied Wednesday’s drop to the fresh insider-sale disclosure. The stock’s reversal was sharper than the broader market: the SPDR S&P 500 ETF Trust was off about 0.5%, while the Invesco QQQ Trust was down about 0.2%.
The longer-running story is fuel. Last week, the U.S. government chose five companies, including Oklo, for advanced talks over potentially using Cold War-era surplus plutonium as reactor fuel. Oklo plans to work with European nuclear company newcleo on the fuel; DeWitte said the program “creates a pathway to use existing surplus material as bridge fuel for advanced reactors to bring more reactors online sooner.” Reuters
Investors got another fuel-supply data point on Tuesday when Urenco said it would expand U.S. uranium-enrichment capacity by nearly 50% at the country’s only commercial enrichment facility for nuclear power plants. Uranium enrichment raises the share of usable uranium in reactor fuel, and domestic capacity has become a larger market focus as advanced nuclear companies try to secure supply.
Still, Wednesday’s selling reached across the group. NuScale Power, another advanced nuclear name, fell about 10.7%; Nano Nuclear Energy lost about 12.3%; and Centrus Energy, a nuclear-fuel company, dropped about 7.8%.
Oklo’s financials leave little room for soft confidence. Its March-quarter filing showed $51.2 million in operating expenses, a $33.1 million net loss and $0.19 per-share loss. The balance sheet was large for an early-stage company, with $1.59 billion in cash and cash equivalents and $614.5 million of current marketable debt securities.
But the downside case is plain. Oklo itself has warned of risks around reactor deployment, fuel fabrication and recycling, access to high-assay low-enriched uranium — a more concentrated fuel used by many advanced-reactor designs — plutonium and other fuels, plant financing, and turning early customer agreements into binding power-purchase contracts. If one of those timelines slips, the shares may keep trading more on confidence than cash flow.
For now, the stock is stuck between two messages. Washington and industry fuel moves continue to support the nuclear buildout story. The market’s response on Wednesday said investors also want fewer distractions, cleaner execution, and more proof that Oklo’s large pipeline can become revenue.
