XE is trading at $30.00 (5.95% up), with the move appearing to be driven by a significant positive development for the nuclear energy sector, amplified by a broader market rally.
- Minnesota lawmakers on May 26 approved funding for a study on building new nuclear power plants, a potential first step toward repealing a 32-year-old state moratorium.
- This development is a direct potential catalyst for developers of new nuclear technology like X-energy, which specializes in small modular reactors (SMRs).
- The move was also supported by a broader risk-on session, with the Nasdaq trading higher on the day.