Kerrisdale Capital published a short report on Oklo on November 20, 2024, which it described as "a $3B nuclear energy company that went public via SPAC six months ago – with no regulator-approved design, no revenue for years, and no proven commercial viability for its planned 15-50 MWe microreactors." The Kerrisdale report asserted that Oklo faces massive technical and financial challenges" in its quest to become the owner-operator of hundreds of nuclear "powerhouses" and that "[i]n classic SPAC fashion, Oklo has sold the market on inflated unit economics while grossly underestimating the time and capital it will take to commercialize its product. . . . Virtually every aspect of Oklo's investment case warrants skepticism."
Following this news, Oklo's stock price fell over 3% on the same day.
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