Why BigBear.ai Stock Jumped This Week
BigBear.ai (NYSE: BBAI) stock posted big gains across the last week of trading. The software company's share price closed out the stretch up 5.4%, according to data from S&P Global Market Intelligence. Meanwhile, the S&P 500 index gained 1.7%, and the Nasdaq Composite index climbed 1.6%.
In addition to bullish momentum for the broader market, BigBear.ai stock posted gains in conjunction with moves made by President Trump. In his first week back in office, Trump rescinded a Biden-era executive order on artificial intelligence (AI) and issued his own order for the technology category.
President Trump's inauguration was held on Jan. 20, and the new president kicked off his new term in office by rescinding an executive order enacted during the Biden administration governing the progression of AI. By canceling Biden's executive order on AI, Trump removed the need for private companies to report details about AI development to the federal government. Revoking the order also eliminated the need for private companies to ensure their AI initiatives were in line with a series of other guidelines outlined during the Biden administration.
Source Fool.com
