Why AI Stock BigBear.ai Was Skyrocketing This Week
Contract extensions usually aren't very exciting. But that isn't the case if you're an investor, your company has a nearly $9 million deal with a very large and very reliable client, and that arrangement wins an extension.
That's what happened this week with "decision intelligence" specialist BigBear.ai (NYSE: BBAI). As a result, the company's share price was nearly 26% higher week-to-date as of early Friday morning, according to data compiled by S&P Global Market Intelligence.
Before market open on Monday, BigBear.ai announced that it had received a six-month extension to its contract with the U.S. Army. The company, which harnesses artificial intelligence (AI) and machine learning to help organizations make optimal decisions for their activities, is the prime contractor in the arrangement.
Source Fool.com
