How did OKLO's expenses surge in Q2 2024?

Oklo's expenses surged in Q2 2024 due to a combination of factors: 1. **Significant Decrease in Revenue**: Oklo experienced a substantial drop in revenue, with the total revenue recorded at -$5.17 million for the quarter. This negative revenue indicates that the company's expenses far exceeded its income during this period. 2. **High Expenses**: The company's net income was -$29.35 million, which suggests that Oklo incurred significant expenses during the quarter. |code|Ticker|Name|Date|Total Revenue|Net Income|Diluted EPS|market_code| |---|---|---|---|---|---|---|---| |OKLO|OKLO.N|Oklo|2023 Q3||-8667956|-0.13|169| |OKLO|OKLO.N|Oklo|2023 Q4||-1.4321242E7||169| |OKLO|OKLO.N|Oklo|2024 Q1||1528369|0.04|169| |OKLO|OKLO.N|Oklo|2024 Q2||-2.9345984E7|-5.17|169| 3. **Financial Strain Indicators**: The stock's Relative Strength Index (RSI) fell to 32.41, which is typically considered to be in the oversold territory but can also indicate a stock that has been depressed by heavy selling pressure. This could reflect the market's negative sentiment towards the company due to its financial performance. The Moving Average Convergence Divergence (MACD) has been negative since April 19, 2024, and the stock's price has not shown a significant upward movement, indicating a bearish trend. 4. **Market Sentiment**: The company's stock price decreased by 6%, which could be a result of investor concerns about the company's financial health and its ability to manage expenses effectively. The decrease in stock price can also lead to a drop in the company's market value, which may affect its ability to raise capital in the future. In conclusion, Oklo's expenses surged in Q2 2024 due to a combination of a significant decrease in revenue, high expenses, and negative market sentiment. The company's financial performance and market sentiment indicators suggest that Oklo faced considerable challenges during this period, which may have impacted its ability to manage expenses effectively.