NuScale Power Corporation (NYSE:SMR) saw a 9.60% decline on Monday, closing at $18.08 per share. Market sentiment was affected by a general sell-off post-holiday. Investors remain cautious due to lack of new catalysts. In Q3, NuScale reported $8.2 million in revenue, a significant increase from last year’s $500,000.

Despite the AI boom, Citigroup gave NuScale Power Corp. (NYSE:SMR) a “sell” rating with a $37.50 price target. Negative factors include Fluor Corp.’s sale of interest and fierce competition. Citi believes SMR’s valuation is too high given its market share projections. No confirmed customers yet, making other AI stocks more promising.

Citi suggests SMR’s market share expectations may be too optimistic given its lack of confirmed customers. While SMR has potential, Citi sees better investment opportunities in AI stocks with lower downside risk. For those interested, they recommend a report on the best short-term AI stock.

Read more at Yahoo Finance: NuScale (SMR) Falls 9.6% as Firm Lacks Fresh Developments