Week to date, shares of BigBear.ai (NYSE: BBAI) were down 24% as of 11:07 a.m. on Friday, according to data provided by S&P Global Market Intelligence. Following last week's jump on the news BigBear.ai had won an indefinite quantity (IDIQ) contract with the U.S. Air Force, the company found itself in the crosshairs of a short-seller that sent the stock plunging.

BigBear.ai is a leader in analytics and cyber engineering using artificial intelligence. The recently announced 10-year contract worth $900 million to deliver capabilities, systems, and synthetic environments to the U.S. Air Force appears to be a huge win on the surface, but its status as an IDIQ contract implies that BigBear may not receive as much from this deal as the headlines suggest.   

In a tweet, Iceberg Research revealed its short position on the stock via put options. Iceberg clearly believes the potential value of the deal is not enough to justify a 260% increase in the stock in one trading session. 

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Source Fool.com