{
  "symbol": "OKLO",
  "company": "Oklo Inc.",
  "generated_at": "2026-06-24T07:36:51.143Z",
  "event_count": 5,
  "events": [
    {
      "type": "scout_dossier",
      "ts": "2026-06-17T06:22:25.606Z",
      "summary": "Oklo is a pre-revenue SMR developer with zero commercial plants operational and no binding power purchase agreements. The company has made genuine regulatory progress—DOE PDSA approval for Aurora-INL (June 2025) is real—but it remains years from revenue generation. Recent ARMEC acquisition (June 8, 2026) adds precision manufacturing capability but is immaterial to near-term financials of a sub-$10B market cap entity burning $50M+ per quarter in operating expenses. The stock is down ~55% YTD and trades ~70% off its 52-week high following the 2025 SMR hype peak, creating a narrative trap: it looks cheap on paper relative to October 2025 peaks, but valuation metrics (forward P/E of -68.9, negative EV/EBITDA) are meaningless for a company with no revenue. Insiders are not buying in open-market transactions—they are receiving RSU grants that vest and generate sales. Options flow is heavily bearish (put/call ratio 3.2, $344K whale put at $90 strike). The core thesis requires the stock to hold above dilution-adjusted cost basis while the company navigates regulatory, fuel supply chain, construction, and financing risks simultaneously—all with no commercial reference plant.",
      "verdict": "no_anomaly",
      "confidence": 5,
      "tool_calls": 21,
      "walltime_min": 35,
      "debug_path": "dossiers/2026-06-17-OKLO.scout.debug.json"
    },
    {
      "type": "scout_dossier",
      "ts": "2026-06-03T03:08:27.518Z",
      "summary": "Oklo is a pre-revenue advanced fission reactor developer with $2.2B in cash but -$100M+ quarterly FCF burn and zero commercial powerhouses constructed. The trigger was 3 recent Form 4 filings, all of which turned out to be systematic SELLING (code S) via pre-established Rule 10b5-1 plans by CEO Jacob DeWitte, COO Caroline Cochran, and CLO William Goodwin — not discretionary open-market buys. This is a bearish smart-money signal, not bullish as the trigger implied. The stock has collapsed ~62% from its $193 peak to $73.47 (YTD -44%) following prior dilution via two $1B+ ATM programs in 2025-2026. Legitimate catalysts exist: DOE Surplus Plutonium Utilization program selection, Meta prepayment agreement for a Pike County campus, and Aurora-INL receiving full DOE authorization pathway approval. However, all revenue-generating milestones are multi-year (first powerhouse target: 2028), no binding PPAs have been signed, HALEU fuel supply chains remain constrained, and the company is deeply loss-making with negative FCF in every period.",
      "verdict": "no_anomaly",
      "confidence": 5,
      "tool_calls": 18,
      "walltime_min": 27,
      "debug_path": "dossiers/2026-06-03-OKLO.scout.debug.json"
    },
    {
      "type": "analyst_decision",
      "ts": "2026-05-15T09:40:21.485Z",
      "skip": true,
      "reason": "Massive insider selling ($22.5M) paired with a new $1B ATM offering on top of $3B raised in two years creates an insurmountable dilution overhang. The company is pre-revenue with accelerating losses, triggering a going-concern flag that makes any long or income structure prohibitively risky.",
      "score": 3,
      "breakdown": {
        "smart_money": 0,
        "options_flow": 0,
        "catalyst": 0,
        "mispricing": 0,
        "quality": 0,
        "technical": 3
      },
      "debug_path": "drafts/2026-05-15-OKLO.analyst.debug.json"
    },
    {
      "type": "scout_dossier",
      "ts": "2026-05-15T09:39:45.176Z",
      "summary": "Oklo is a pre-revenue advanced nuclear fission reactor developer with no operating power plants, deeply negative earnings (Q1 2026 net loss: $33M vs $9.8M YoY), and a pattern of massive share dilution via ATM offerings ($3B raised in roughly two years). The pipeline trigger incorrectly labeled insider Form 4 activity as 'open-market purchases' — all three recent Form 4 filings are actually pre-scheduled 10b5-1 SELL transactions by CEO DeWitte (~14M), COO Cochran (~7M), and CFO Bealmear (~$1.13M). Simultaneously, the company filed an $1B new ATM offering on May 13, 2026 after depleting a prior $1.5B facility. The nuclear regulatory catalyst thesis is real but multi-year; there are no near-term revenue catalysts to offset cash burn or dilution risk.",
      "verdict": "bearish_setup",
      "confidence": 4,
      "tool_calls": 18,
      "walltime_min": 13,
      "debug_path": "dossiers/2026-05-15-OKLO.scout.debug.json"
    },
    {
      "type": "scout_dossier",
      "ts": "2026-05-08T14:17:44.268Z",
      "summary": "Oklo is a pre-revenue advanced nuclear fission company developing Aurora compact fast reactors (15-75 MWe) with zero operating power plants and no binding customer contracts. The Form 4 cluster triggering this investigation resolved entirely as systematic selling by the CEO, COO, and CFO via Rule 10b5-1 plans adopted in March 2025 — not open-market conviction buys. All insider activity in the past 90 days is S-code sales. Despite a legitimate regulatory catalyst (NRC approved Aurora Principal Design Criteria on May 6, 2026) and high-profile partnerships including Meta and NVIDIA/Los Alamos, the stock trades at ~$12.5B market cap with negative earnings, no revenue, and EPS consistently missing estimates by 60-65%. Options flow is structurally bearish (P/C ratio 2.17). The mispricing/catalyst/edge triad does not hold: there is no defensible intrinsic value case, the NRC approval was already priced in (stock ran +63% prior month), and insiders are net sellers.",
      "verdict": "no_anomaly",
      "confidence": 5,
      "tool_calls": 22,
      "walltime_min": 35,
      "debug_path": "dossiers/2026-05-08-OKLO.scout.debug.json"
    }
  ],
  "lessons": [],
  "chart_signal": {
    "ticker": "OKLO",
    "call": "SELL",
    "confidence": 5,
    "score": -7,
    "factors": {
      "below_200dma": "-2",
      "below_50dma": "-1",
      "momentum_flat": "0 (7.2%)",
      "rsi_neutral": "0 (43.9)",
      "recent_macd_bearish_cross": "-2 (12d ago)",
      "broken_below_high": "-2 (-67.2% from high)"
    },
    "summary": "SELL (score -7) · 12-1 mom 7.2% · RSI 43.9 · below_both · -67.2% from high",
    "last_close": 57.19,
    "one_month_ago_close": 65.09,
    "twelve_month_ago_close": 60.71,
    "twelve_one_momentum_pct": 7.21,
    "rsi_14": 43.9,
    "ma_stack": "below_both",
    "from_period_high_pct": -67.16,
    "period_high": 174.14,
    "price_targets": {
      "bear": 14,
      "fair": 70.4,
      "bull": 200.26,
      "bear_return_pct": -75.5,
      "fair_return_pct": 23.1,
      "bull_return_pct": 250.2,
      "method": "street_targets ⨯ chart_floors",
      "street": {
        "target_low": 14,
        "target_mean": 88.63158,
        "target_high": 140,
        "analyst_count": 19
      }
    },
    "generated_at": "2026-06-24T07:36:51.141Z"
  }
}