Why BigBear.ai Stock Is Skyrocketing Today
Shares of BigBear.ai Holdings (NYSE: BBAI) are flying today. The firm's stock is up 10.2% as of 12:20 p.m. ET, but it gained as much as 15.1% earlier in the day. The upswing came as the S 500 and Nasdaq Composite indexes were up 0.6% and 0.3%, respectively.
BigBear is benefiting from President Trump's revoking of a key Biden executive order regulating artificial intelligence (AI) companies. The firm also announced a new CEO would take the reins.
Soon after his inauguration, President Trump signed a flurry of executive orders -- 26, the most of any president on the first day in office -- including an order that revokes a number of previous orders and actions taken by President Biden. Labeling them "harmful," Trump took sweeping aim at the previous administration, including by revoking a 2023 mandate designed to rein in the burgeoning AI industry.
Source Fool.com
