X-Energy, which specializes in advanced small modular nuclear reactors, has struggled to maintain its initial market momentum. Since the company went public on April 24 at $23 per share, the stock has plummeted more than 30%. The decline is even more pronounced when measured against the peak price reached on the third day of trading, representing a total slide of nearly 65%.

ARK Invest’s position, currently valued at $88.4 million, reflects Wood’s strategy of expanding holdings in companies focused on cutting-edge technology during periods of volatility. While the broader utility sector faces downward pressure alongside general market weakness, Wood remains committed to the nuclear startup, consistently buying into the price drop.