While nuclear power plants aren't popping up all over the U.S. right now, nuclear power -- as a potential option for supporting the electric grid -- is much more frequently discussed in conversations than it was 10 years ago. With nuclear power increasingly proposed as a solution to addressing our growing energy demands, many are looking to stocks like NuScale Power (SMR 17.73%), a developer of small modular reactors (SMR), as potential investment opportunities.

But those who bought and have held on to their shares of NuScale stock since its debut on the public markets after a business merger with a special purpose acquisition company (SPAC) haven't prospered from the recent attention that nuclear power is receiving.

After charging higher, it's been a steady road down

NuScale Power hit the public markets on May 3, 2022 and closed at $10.55. Several months later, enthusiasm for NuScale Power ramped up when investors learned that the U.S. Nuclear Regulatory Commission would approve the company's SMRs, and the stock closed at its all-time high of $15.32 on Aug. 24, 2022.

Shares have failed to return to the same level, though, leaving early investors with negative returns on their investments. Those who bought NuScale Power stock the day it began trading after its SPAC merger was completed are down about 25%. That leaves them with about $7,400 if they had initially bought $10,000 worth of NuScale Power stock.

Is now a good time to power your portfolio with NuScale Power?

While NuScale Power has failed to provide the market-beating returns that growth investors had looked for when they started their positions in the nuclear energy stock, it's important to remember that the company's story is hardly over. That being said, the story will surely continue to have some plot twists -- and not necessarily fun ones.

In attempting to disrupt the status quo in the energy landscape by offering an innovative approach to nuclear power, NuScale Power will surely face some adversity in the near future, so potential investors must be mindful of near-term volatility and should temper their expectations accordingly.