Oklo Inc. (Oklo (OKLO)) stock tumbled more than 12% on Wednesday after co-founders Jacob DeWitte and Caroline Cochran disclosed roughly $13.6 million in stock sales under a pre-arranged trading plan. The move prompted investors to lock in gains following the stock's recent rally.

The broader market also slipped, with the Nasdaq down 0.35% and the S&P 500 off 0.60%.

Co-Founders Execute Pre-Planned $13.6 Million Insider Sale

The catalyst behind Wednesday's drop stems from insider selling executed earlier this week. Co-Founder and CEO Jacob DeWitte disclosed open-market insider sales totaling 200,000 Class A common shares on June 1, 2026. The transactions involved DeWitte, Co-Founder and COO Caroline Cochran (his spouse), and affiliated GRATs and family trusts, with shares sold at prices ranging from $64.99 to $70.45 per share.

The transactions were carried out under a pre-arranged Rule 10b5-1 plan adopted on March 31, 2025, and executed through multiple trades at weighted-average prices. That's important: these weren't spontaneous sales — they were scheduled months in advance, which tends to soften the insider-selling stigma a bit.

Following these sales, the Form 4 reports 571,533 shares held directly by DeWitte and significant additional indirect holdings, including 7,851,901 shares in the Jacob DeWitte Family Trust and 7,583,085 shares in the Caroline DeWitte Family Trust.

Nuclear Sector Trades Higher on Geopolitical News

The pullback comes despite a rising tide for the broader nuclear and uranium industry. Stocks across the sector gained ground on Tuesday after Secretary of State Marco Rubio announced that Iran has agreed to negotiate parts of its nuclear program. That's the kind of headline that tends to boost sentiment for nuclear plays, as it signals potential de-escalation and renewed focus on civilian nuclear energy.

Furthermore, uranium processor Urenco revealed plans to expand its U.S. commercial enrichment facility by nearly 50%, strengthening the domestic nuclear fuel supply chain. Oklo finished Tuesday up about 8.96%.

DOE Wins Provide Long-Term Context

The current decline follows a major trading surge on May 26, when Oklo shares jumped 10.38%. That rally was fueled by the U.S. Department of Energy selecting Oklo for advanced negotiations under the Surplus Plutonium Utilization Program. Oklo plans to collaborate with newcleo to convert surplus material into fuel for its Aurora powerhouse line.

Commenting on the initiative, DeWitte previously stated, "Fuel supply constraints are a key throttle to advanced reactor development. This program creates a pathway to use existing surplus material as bridge fuel."

So while the insider sale is grabbing headlines today, the longer-term story for Oklo is still very much about government contracts and nuclear fuel innovation.

Critical Support and Resistance Levels for OKLO

From a trend perspective, OKLO is still trying to stabilize after a big longer-term drawdown: it's trading about 23.8% below its 200-day SMA ($85.75), even after gaining 31.25% over the last 12 months. At the same time, it's holding 3.9% above its 50-day SMA ($62.91).

The tug-of-war shows up in the moving-average structure: the 20-day SMA is above the 50-day SMA (a bullish tilt), but the 50-day SMA remains below the 200-day SMA (the death cross that printed in February), which keeps the bigger-picture trend cautious. With shares now 4.1% below the 20-day SMA ($68.15) and 4% below the 100-day SMA ($68.07).

• Key Resistance: $66
• Key Support: $63

OKLO Stock Price Activity: Oklo shares were down 12.43% at $64.33 at the time of publication on Wednesday.