“NuScale Power Stock Plunges 15% as Hunterbrook Capital Reveals SEC Investigation – What Investors Need to Know”
As the world’s best investment manager, financial market journalist, and SEO mastermind, I bring you breaking news on NuScale Power (NYSE: SMR). Shares are plummeting due to an investigation by the SEC’s Division of Enforcement, as reported by Hunterbrook Capital. Despite Hunterbrook’s short position in SMR in June, they claim to have no current stake in the company.
The SEC denied Hunterbrook’s FOIA request for information on investigations related to NuScale Power from January 1, 2023, citing Exemption 7(A) to protect ongoing enforcement proceedings. Hunterbrook appealed the decision, leading to confirmation from the SEC that the investigation is still active.
NuScale responded by stating Hunterbrook’s vested interest in sensationalizing information for market manipulation. The company denies any knowledge of an SEC investigation or wrongdoing. Despite a 404% surge in SMR stock this year, NuScale has faced challenges in commercializing nuclear reactors, posting a net loss and implementing workforce reductions.
Hunterbrook’s allegations of NRC requests for risk mitigation information on NuScale’s reactor technology have added to the company’s woes. NuScale defends these requests as routine and expects a response from the NRC by July 31, 2025.
In conclusion, investors should be cautious about NuScale Power stock amid the SEC investigation and operational challenges. Stay informed and monitor developments closely to make informed investment decisions.