Overview
- Shares fell about 11–12% to roughly $301 on Friday after reports of a potential policy shift affecting long-term power procurement in the PJM grid.
- The administration is expected to urge PJM to hold an emergency auction allowing major tech firms to bid on 15-year contracts to build new plants, with a directive anticipated to be signed by the National Energy Dominance Council and a development scope cited at up to $15 billion if implemented, according to Bloomberg.
- Constellation remains the largest U.S. producer of carbon‑free nuclear power and has been viewed as a beneficiary of AI and data‑center growth, bolstered by its Calpine acquisition.
- S&P Global Ratings reaffirmed the company’s BBB+ credit rating with a stable outlook in January 2026 despite a higher debt load following the Calpine deal.
- Technical readings cited Friday showed the stock trading below key moving averages with MACD below its signal line and RSI near neutral, signaling near-term bearish momentum.