NuScale Power plunges after report says it is under SEC investigation (NYSE:SMR)

Nuscale Energy (NYSE: SMR) -12.1% to its lowest level in more than a month in early trading on Monday after Hunterbrook Capital released a critical report on the company, saying the Securities and Exchange Commission’s enforcement division was conducting an “active and ongoing” investigation into the company.

The SEC noted that its decision “should not be construed as an indication by the Commission or its staff that any violations of law have occurred.”

The market capitalization of NuScale Power (SMR), which has positioned itself as a pioneer in small modular reactor technology, has more than tripled to over $2 billion in the last six months.

The Nuclear Regulatory Commission’s approval of the NuScale reactor (SMR) is critical for the company because NuScale has indicated that it does not expect to bring to market an earlier 50 MW version of its reactor, the first small modular reactor to be certified by the NRC.