Trump administration is dumping money into cratering nuclear stocks

The stock prices of most publicly-traded nuclear companies that have received a loan, contract, or financial incentive from Donald Trump’s administration have declined since receiving that favor.

Trump’s administration has handed the nuclear industry tens of billions of dollars of incentives in the past year, including a new $4.2 billion federal loan to Ohio nuclear plant operator Vistra announced today.

Vistra’s stock price is down 9% year-to-date (YTD).

Another $80 billion proposal between Cameco and Brookfield Asset Management would have handed the US government 20% of future profits or equity in the public-private partnership.

Cameco stock has declined 3% YTD.

Despite a 22% boost in its stock price when that deal was announced in October, its shares are 12% lower today than the date of that deal. Brookfield Asset Management, the second party to that deal, has lost 15% YTD, and has performed even worse when measured from the October announcement date.

On October 29, Nuclear power company NuScale said its private partner ENTRA1 Energy stands to receive up to $25 billion of US-Japanese investment under Trump’s international trade deal. Politico described ENTRA1 as a three-year-old startup with a skeleton staff.

NuScale’s stock is down 81% since that announcement.

Read more: Trump-related American Bitcoin has lost more than 90% of its value

Trump nuclear incentives precede lower stock prices

In November 2025, publicly-traded Constellation Energy secured a $1 billion loan to restart its Crane nuclear plant in Pennsylvania.

Its stock is down 19% since that news.

In December 2025, Holtec, which owns a nuclear plant in Michigan, received a $400 million award from the Energy Department after drawing at least six disbursements from a $1.52 billion guarantee that the Biden administration finalized.

Holtec then suspended its IPO for retail shareholders this month.

On January 6, 2026, Centrus Energy won a $900 million uranium enrichment task order from the US Energy Department.

Its shares are down 54% since it received that Trump administration contract.

On June 23, the Energy Department offered a conditional $17.5 billion loan for equipment on 10 Westinghouse reactors, co-owned by Cameco.

Cameco stock is down 15% since that date.

On August 17, X-energy learned that it will receive another $1 billion in Energy Department cost-sharing for nuclear generators. X-energy priced its April IPO at $23 per share, and the stock now trades below $15.

It’s also 10% below its intraday high on the day it received that $1 billion Trump administration incentive.

On August 26, Trump’s US Army awarded up to $2.2 billion to nuclear microreactor builders, including BWX Technologies.

BWX Technologies stock has traded flat since that news, after losing more than 20% YTD.

On September 8, NextEra Energy closed on a federal loan of up to $1.9 billion in September to restart Iowa’s only nuclear power plant.

NextEra stock is already down 7% within four weeks.

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