Why BigBear.ai Stock Is Skyrocketing Today
BigBear.ai (NYSE: BBAI) stock is surging in Thursday's trading. The company's share price was up 19.3% as of 3:45 p.m. ET. Meanwhile, the S 500 index was flat, and the Nasdaq Composite index was up 0.1%.
After a surge of bearish pressures due to macroeconomic concerns last week, BigBear.ai and other meme stocks have been making a rebound this week. The software specialist's valuation is likely also getting a boost from recent news about Palantir's plans in the defense industry.
Investors sold out of meme stocks last week after the Federal Reserve served up some bearish news. While the central banking authority announced another 25 basis-point cut for interest rates at its most recent policy meeting, its leadership indicated that there will now likely only be two rate cuts on that level next year. Previously, the Fed had indicated that there could be four rate cuts in 2025.
Source Fool.com
