NuScale is America's contender in the race to build a commercial, nuclear small modular reactor (SMR). The company has two buyers for its product lined up. But the stock's price seems to say that there is trouble ahead, especially after the recent release of a negative research report by a small short selling firm, Iceberg Research. Peak to trough the shares have fallen about 75% and since their initial $10 a share public offering via a merger with a special purpose acquisition company (SPAC) in May 2022 the shares (ticker SMR) have dropped to $3.80. //

To sum up. NuScale has about three months to find buyers for 250 MWs of power in the Intermountain West or its initial subscribers at UAMPs can walk away from the project receiving full refunds. Also, at some point next year NuScale will need more cash, which will likely lead to meaningful dilution for existing shareholders. And lastly, we have senior management engaging in a battle with a short seller who seems to view the Standard deal as something akin to a stock promotion scheme of dubious merit. //

All we can conclude. at this point, is that American development of SMR technology seems in real jeopardy for nontechnological reasons.