BigBear.ai Stock Hits Over 32-Month High On Bagging Department Of Defense Contract: Retail's Extremely Bullish

Shares of BigBear.ai Holdings Inc. (BBAI) surged more than 36% in morning trade on Wednesday after the company announced that it had bagged a contract from the U.S. Department of Defense (DOD).

The DOD contract involves BigBear.ai developing a Virtual Anticipation Network (VANE) prototype for the Chief Digital and Artificial Intelligence Office (CDAO).

BigBear.ai’s prototype will use custom AI models to improve the assessment of news originating from potential foreign adversaries.

“By advancing VANE within CDAO, we are arming our warfighters with sophisticated intelligence capabilities to leverage foreign insights critical to the safety of our Nation and those protecting it,” said Ryan Legge, President of National Security at BigBear.ai.

The company noted that VANE bagged “awardable” status at DOD’s Tradewinds framework in April 2024. It added that today’s contract win advances VANE from the research prototype stage to an operational prototype.

BigBear.ai’s contract win helped it climb to the top of trending stocks on Stocktwits. The company’s shares are now at a 32-month high.

This comes after BigBear.ai bagged a U.S. Navy contract last week.

Retail sentiment on Stocktwits around the BigBear.ai stock was in the ‘extremely bullish’ (89/100) territory, while message volume increased to ‘extremely high’ levels.

One user thinks the BigBear.ai stock will rise to $10 to $15 levels by the end of this week.

BigBear.ai’s share price has surged more than five times over the past six months, gaining almost 440%.

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Also See: IBM Stock Holds Ground As Wedbush Reiterates Rating On ‘Solid’ Path To AI Strategy, Bottom-Line Expansion: Retail Stays Extremely Bullish