Why BigBear.ai Stock Is Skyrocketing Today

BigBear.ai (NYSE: BBAI) stock is surging Wednesday. The company's share price was up 29% as of 2:30 p.m. ET, according to data from S&P Global Market Intelligence. Shares had been up as much as 47.4% earlier in the day's trading.After the market closed yesterday, BigBear published a press release announcing that it had landed a new contract. The software specialist will be providing services to Concept Solutions -- a private company that was recently awarded a contract with the Federal Aviation Authority (FAA).News that BigBear will be providing services to the FAA as a subcontractor is spurring a big upswing for the company's market capitalization. As per the press release, Concept Solutions is one of 14 companies that has been awarded new contracts with the FAA. The new contracts could be worth as much as $2.4 billion over the next decade. In a subcontracting role, BigBear will help Concept Solutions manage information systems, provide administrative support, and assist with financial and security programs for the FAA.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool