🔴 Nuscale Power Corp drops 9.8% despite appointing former NRC Chair to board, as traders take profits

Nuscale Power Corp is trading 9.8% down today at $12.58, a sharp reversal attributed to profit-taking after a strong multi-day rally.

• The drop occurs despite the company announcing on Tuesday the addition of two new board members, including Dale E. Klein, a former chairman of the U.S. Nuclear Regulatory Commission (NRC).
• The positive news, which also included reports of potential investment interest from South Korea, was not enough to sustain the recent rally, with the stock pulling back from technically overbought levels.