Why BigBear.ai Stock Is Sinking Today
The stock of BigBear.ai (NYSE: BBAI) is losing ground in Thursday's trading. The company's share price was down 4.8% as of noon ET today, while the S 500 index was up 0.5%, and the Nasdaq Composite index was up 0.7%.
BigBear stock had been up as much as 18.5% to start the day's trading thanks to an announcement of a new government contract. But investors are weighing macroeconomic risks and pivoting away from speculative stocks, and recent filings with the Securities and Exchange Commission (SEC) didn't help, either.
BigBear.ai published a press release before the market opened today announcing that it had been awarded a contract through the U.S. General Services Administration (GSA). The tech specialist will be providing services for a suite of projects across the government that are designed to streamline procurement services for civilian and defense projects.
Source Fool.com
