Oklo Shares Sink 12% After Co-Founders Sell $13.6 Million in Stock
Oklo Inc. shares tumbled more than 12% on Wednesday after Benzinga reported that co-founders Jacob DeWitte and Caroline Cochran disclosed a combined $13.6 million in stock sales executed under a pre-arranged trading plan.
Co-Founders Execute Pre-Planned Oklo Insider Sale
Co-Founder and CEO Jacob DeWitte filed a Form 4 disclosing open-market sales of 200,000 Class A common shares on June 1. The transactions covered DeWitte, Co-Founder and COO Caroline Cochran (his spouse), and affiliated family trusts. Shares were sold at prices ranging from roughly $65 to $70.45 each. The sales were carried out under a Rule 10b5-1 plan adopted in March 2025, shielding insiders from accusations of trading on material non-public information. DeWitte still holds over 570,000 shares directly. Combined indirect holdings through family trusts exceed 15 million shares.
Broader Nuclear Sector Moves Higher
The Oklo selloff came against a surprisingly positive backdrop for the nuclear sector. Uranium and reactor-related stocks gained ground Tuesday after Secretary of State Marco Rubio announced Iran agreed to negotiate portions of its nuclear program. Separately, enrichment firm Urenco unveiled plans to expand its U.S. commercial facility by nearly 50%. That news lifted Oklo shares roughly 9% on Tuesday alone, making Wednesday’s reversal all the sharper.
Background: DOE Selection Fueled the Recent Rally
Wednesday’s decline follows a strong run for Oklo. Shares surged more than 10% on May 26 after the U.S. Department of Energy selected Oklo for advanced negotiations under the Surplus Plutonium Utilization Program. The company plans to work with newcleo to convert surplus government material into fuel for its Aurora powerhouse reactor line. DeWitte previously described fuel supply constraints as a primary bottleneck for advanced reactor deployment, calling the DOE program a pathway to use existing stockpiles as bridge fuel.
Technical Picture Remains Cautious
From a charting perspective, Oklo’s position is mixed. The stock still trades roughly 24% below its 200-day simple moving average near $85, a gap that reflects a death cross that printed in February. On the other hand, the 50-day average remains above the 20-day average, a near-term bullish signal. Key support sits around $63, with resistance near $66. Oklo shares were changing hands at approximately $64.33 at the time of publication, down 12.43% on the session. The S&P 500 shed 0.60% Wednesday, while the Nasdaq fell 0.35%.
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