Oklo Inc (OKLO 5.29%) experienced a distinctly unpleasant Tuesday, shedding 5.3% of its value. One might have hoped a company engaged in the construction of miniature nuclear reactors would be shielded from the vagaries of international politics, but alas. The broader market, predictably, suffered a similar affliction, with the S&P 500 and Nasdaq Composite registering declines of 2.1% and 2.4% respectively – a performance one might charitably describe as ‘spirited,’ though ‘capitulation’ feels closer to the mark.
The proximate cause, as near as one can discern, is the President’s renewed interest in acquiring Greenland. One trusts the feasibility studies were conducted with the same rigor applied to, say, a balanced budget. Oklo, naturally, found itself swept along in the resulting turbulence. The notion that a company building nuclear reactors is vulnerable to the whims of geopolitical posturing is, of course, a commentary on the age.
A Tariff Threat and a Frozen Territory
The President, it appears, proposes to impose tariffs – escalating from a modest 10% in February to a rather more assertive 25% by June – upon the United Kingdom and several European allies, unless they demonstrate enthusiasm for the Greenland project. One pictures frantic meetings in Brussels, not concerning economic stability or collective security, but the price of ice. Treasury yields, predictably, perked up, while the dollar exhibited a certain understandable nervousness.
Analysts, ever eager to identify patterns where none may exist, have begun to speak of a ‘sell-America’ sentiment. Mr. Ian Lyngen of BMO, a gentleman clearly paid to articulate the obvious, observed that the market’s reaction suggests a return to this unfortunate disposition. One suspects this will prove fleeting, as the desire to divest oneself of American assets is rarely sustained for long. There is, after all, nowhere quite like it.
The Perils of Progress and Political Fancies
Oklo’s fortunes, it must be said, are inextricably linked to the health of the broader economy. A trade war with Europe, however improbable, could certainly dampen enthusiasm for miniature nuclear reactors – or, more accurately, its access to the capital required to build them. Developing and constructing nuclear facilities, even of the modular variety, remains an extraordinarily expensive undertaking. One can only hope the President’s Greenlandic ambitions do not prove incompatible with the demands of fiscal responsibility. The notion of a nation diverting resources to acquire a large, icy landmass when it struggles to maintain its existing infrastructure is, to put it mildly, curious.
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2026-01-21 02:53