In the most recent trading session, Constellation Energy Corporation (CEG) closed at $300.51, indicating a +2.85% shift from the previous trading day.
Constellation Energy is up 30.1% YTD as its nuclear strength, fuel security and big clean energy deals drive long-term growth.
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President Donald Trump wants to quadruple nuclear power by 2050, but the U.S. is heavily dependent on foreign countries for its fuel supplies. The enriched uranium market is dominated by state-owned corporations, particularly Russia's Rosatom, raising security concerns.
CEG rides nuclear momentum with strong demand, new reactor plans, and a 26.4% stock surge over three months.
Zacks.com users have recently been watching Constellation Energy Corporation (CEG) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Constellation Energy Corporation (CEG) reported earnings 30 days ago. What's next for the stock?
Big tech's appetite for energy could means upside for nuclear power stocks
Before the market's open on June 3, Constellation Energy NASDAQ: CEG, a nuclear energy giant, announced a new deal with AI hyperscaler Meta Platforms NASDAQ: META. This comes just days after a report from the Wall Street Journal stated that Meta aims to allow marketers to fully automate ad creation by the end of 2026.
SPY jumped 6.3% in May, the most in decades, led by standout gains in NRG, STX, CEG, PODD and MCHP amid easing trade fears.
Big Tech companies are scrambling to secure electricity for the long term. For many, this means investing in nuclear power generation.
Meta has signed a 20-year agreement to buy nuclear power from Constellation Energy. Beginning in 2027, the tech giant will purchase about 1.1 gigawatts of power from Constellation's Clinton Clean Energy Center in Illinois, part of the growing trend of tech companies pushing toward nuclear energy.