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Why Is BigBear.ai Holdings Stock Plummeting This Week?

TheMotleyFool

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Why Is BigBear.ai Holdings Stock Plummeting This Week?: https://g.foolcdn.com/editorial/images/841798/bear2025.jpg

Shares of BigBear.ai Holdings (NYSE: BBAI) are falling this week, down 21.2% as of 12:38 p.m. ET on Friday. The move comes as the S 500 and the Nasdaq-100 lost 2.7% and 4.5%, respectively.

The artificial intelligence (AI) company is seeing its stock fall amid troubling economic data and growing concern over stretched valuations for AI stocks.

As the government shutdown drags on, investors will still have to wait for official job numbers from the Bureau of Labor Statistics (BLS), but a report from the private firm Challenger, Gray Christmas showed October job cuts totaled 153,074, the most on record for October since 2003.

Source Fool.com