Here’s why Oklo and other nuclear power stocks skyrocketed this week

Nuclear stocks are reaching for the moon.

In the past week, small nuclear reactor maker Oklo (OKLO) has surged 30%. NuScale Power (SMR) also jumped more than 30% during the same period.

Nano Nuclear Energy (NNE) and uranium producer Uranium Energy (UEC) rose 20% and 10%, respectively.

The move higher comes amid an overall market rally and follows the White House’s release of guidance earlier this week for faster development of nuclear power systems to be used in space missions.

The plan focuses on building small nuclear reactors that could power lunar bases and eventually support crewed missions to Mars.

The first nuclear reactor in space is aimed for a December 2028 launch, while a moon-based reactor is anticipated for 2030.

Space insiders say accessing a reliable source of energy in space would be critical for the US government’s mission of “American Space Superiority.” The industry has set ambitious goals of lunar landings, Mars exploration, and even a push from SpaceX to place data centers in space.

“Lunar bases, orbiting space stations, orbiting data centers, all these require energy to be able to have reliable, steady supply of energy,’ Andrew Chanin, co-founder and CEO of ProcureAM, issuer of the Procure Space ETF (UFO), told Yahoo Finance.

“To be able to have that reliable source of energy is a must for supporting human life in space,” he added.