NuScale Stock Now Trades for About the Cash on Its Books. Should You Buy It Now?

NuScale Power's stock has plummeted 92% from its October 2025 peak and now trades near its $1.86 billion in cash, seemingly offering a bargain valuation. However, the author argues this isn't a buy because the company has no revenue, mounting quarterly losses of ~$65 million, and faces a critical risk: if its non-binding TVA power deal advances, contractual payments to partner ENTRA1 Energy could consume most of the cash before NuScale sells a single module.