<p><strong>Oklo</strong>（OKLO -1.30%）的股票，作为一家 “微型” 核反应堆的初创开发公司，遭到了 Seaport Global 分析师 Jeff Campbell 的中性评级下调，StreetInsider.com 今天报道。</p>
<p>该股在早盘交易中下跌近 6%，但截至上午 10:40，交易仅下跌 1.3%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQ2ODAvZ2xvd2luZy1ncmVlbi1udWNsZWFyLXJhZGlhdGlvbi1pY29uLmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQ2ODAvZ2xvd2luZy1ncmVlbi1udWNsZWFyLXJhZGlhdGlvbi1pY29uLmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>估值很重要</h2>
<p>Oklo 的股票在今年表现强劲，12 个月内上涨近 16 倍，Campbell 承认公司在爱达荷国家实验室首次核反应堆试点项目的近期破土动工对股票是个积极信号。</p>
<p>然而，Oklo 股票的快速上涨——在没有利润，甚至没有收入的情况下，并且大多数分析师预测未来五年将持续亏损——确实让分析师感到犹豫。</p>
<p>Campbell 表示：“虽然我们继续看到 Oklo 业务发展的许多积极因素，但基于当前的股票估值，我们现在选择观望。”</p>
<h2>Oklo 股票值多少钱？</h2>
<p>这确实是个耐人寻味的说法。正如我刚才提到的，Oklo 的股票在 12 个月内上涨了 15 倍，现在的市值超过 200 亿美元。</p>
<p>Campbell 显然认为这个价格对于该股票来说太高，但必须问的是：200 亿美元对于一家没有利润的初创公司来说是否太贵？我同意。</p>
<p>但当 Oklo 的股票价格只有今天一半时——每股 69 美元？难道 100 亿美元对于一家没有利润的股票也不算太贵吗？或者说是这个金额的一半——34.50 美元？5 亿美元是否也许太多了？</p>
<p>今天应该让 Oklo 投资者担忧的是：一旦 Oklo 的股票停止飙升，投资者开始质疑估值，这只股票几乎没有下跌的底线。</p>

OKLO

<p>Oklo（OKLO）的股价在 Seaport Global 分析师 Jeff Campbell 将其评级下调至中性后下跌了 1.3%。该股在早盘交易中最初下跌近 6%。尽管过去一年股价上涨近 16 倍，并且其首个核反应堆试点项目的开工等积极进展，但对其高估值和缺乏盈利的担忧导致了评级下调。Campbell 对该股当前超过 200 亿美元的估值表示谨慎，质疑在没有收入或利润的情况下其可持续性</p>

<p>Shares of <strong>Oklo</strong>(OKLO -1.30%), a start-up developer of &#34;micro&#34; nuclear reactors, suffered a downgrade to neutral at the hands of Seaport Global analyst Jeff Campbell, as StreetInsider.com reports today.</p>
<div class="lb-trans"><p><strong>Oklo</strong>（OKLO -1.30%）的股票，作为一家 “微型” 核反应堆的初创开发公司，遭到了 Seaport Global 分析师 Jeff Campbell 的中性评级下调，StreetInsider.com 今天报道。</p>
</div><p>The stock fell nearly 6% in early trading, but as of 10:40 a.m., trades down only 1.3%.</p>
<div class="lb-trans"><p>该股在早盘交易中下跌近 6%，但截至上午 10:40，交易仅下跌 1.3%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQ2ODAvZ2xvd2luZy1ncmVlbi1udWNsZWFyLXJhZGlhdGlvbi1pY29uLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F834680%2Fglowing-green-nuclear-radiation-icon.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Valuation matters</h2>
<div class="lb-trans"><h2>估值很重要</h2>
</div><p>Oklo stock has been on a tear this year, rising nearly 16-fold over 12 months, and Campbell acknowledged the company's recent groundbreaking for its first nuclear reactor pilot project at Idaho National Laboratory is a positive for the stock.</p>
<div class="lb-trans"><p>Oklo 的股票在今年表现强劲，12 个月内上涨近 16 倍，Campbell 承认公司在爱达荷国家实验室首次核反应堆试点项目的近期破土动工对股票是个积极信号。</p>
</div><p>Nevertheless, the rapid rise of Oklo stock -- in the absence of profit, or indeed revenue, and with most analysts forecasting nothing but losses for the next five years -- does give the analyst pause.</p>
<div class="lb-trans"><p>然而，Oklo 股票的快速上涨——在没有利润，甚至没有收入的情况下，并且大多数分析师预测未来五年将持续亏损——确实让分析师感到犹豫。</p>
</div><p>Says Campbell: &#34;While we continue to see a number of positives in Oklo's business development, we are stepping to the sidelines for now, based on the current stock valuation.&#34;</p>
<div class="lb-trans"><p>Campbell 表示：“虽然我们继续看到 Oklo 业务发展的许多积极因素，但基于当前的股票估值，我们现在选择观望。”</p>
</div><h2>How much is Oklo stock worth?</h2>
<div class="lb-trans"><h2>Oklo 股票值多少钱？</h2>
</div><p>That's a curious statement, though. As I just mentioned, Oklo stock is up 15x in value over 12 months, and now costs more than $20 billion.</p>
<div class="lb-trans"><p>这确实是个耐人寻味的说法。正如我刚才提到的，Oklo 的股票在 12 个月内上涨了 15 倍，现在的市值超过 200 亿美元。</p>
</div><p>Campbell apparently thinks this is too much to pay for the stock, but the question must be asked: $20 billion is too much to pay for a start-up stock with no profits. Agreed.</p>
<div class="lb-trans"><p>Campbell 显然认为这个价格对于该股票来说太高，但必须问的是：200 亿美元对于一家没有利润的初创公司来说是否太贵？我同意。</p>
</div><p>But what about when Oklo stock cost half as much as it did today -- $69 a share? Wasn't $10 billion also too much to pay for a profitless stock? Or how about half that amount -- $34.50? Was $5 billion perhaps too much to pay?</p>
<div class="lb-trans"><p>但当 Oklo 的股票价格只有今天一半时——每股 69 美元？难道 100 亿美元对于一家没有利润的股票也不算太贵吗？或者说是这个金额的一半——34.50 美元？5 亿美元是否也许太多了？</p>
</div><p>The thing that should worry Oklo investors today: Once Oklo stock stops skyrocketing and investors start questioning the valuation, there's almost no limit to how low this stock could go.</p>
<div class="lb-trans"><p>今天应该让 Oklo 投资者担忧的是：一旦 Oklo 的股票停止飙升，投资者开始质疑估值，这只股票几乎没有下跌的底线。</p>
</div>

为什么 Oklo 的股票今天稍微下跌了