SA Sentiment: Nuclear wins as the best alternative energy source
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In November’s Sentiment Survey by Seeking Alpha’s Wall Street Breakfast, subscribers were asked to identify the most realistic alternative energy source in the U.S. Choices given were wind, solar, nuclear, geothermal and hydropower, but only one clear winner emerged from the poll with 72.8% of the vote.
The most popular reply from a total of 1,410 responses? Go nuclear.
It’s not surprising as the sector has recently experienced a wave of investment, especially from Big Tech, and might have more staying power this time around due to demand from artificial intelligence and data centers.
Deals include Microsoft’s (NASDAQ:MSFT) agreement to revive Three Mile Island, Google’s (NASDAQ:GOOG) (NASDAQ:GOOGL) partnership with Kairos Power, as well as Amazon’s (NASDAQ:AMZN) support of new small modular reactors.
In fact, three out of the top 10 S&P 500 stocks of 2024 – like Vistra (NYSE:VST) +300%, GE Vernova (NYSE:GEV) +157%, Constellation Energy (NASDAQ:CEG) +111% – all have a presence in the nuclear industry.
Runners-up? Second place in the latest SA Sentiment Survey was awarded to solar, finding favor among 18.7% of respondents, while the other sectors only garnered 2-3% of the vote.