The trade was done on Aug. 7, with the disclosure coming along with a series of other transactions filed by the representative on Friday.
Artificial intelligence (AI)-powered decision intelligence solutions company Big Bear.ai Holdings, Inc.’s (BBAI) trended on Stocktwits early Tuesday. The stock also gathered some momentum in the overnight trading, over 3% in the overnight session.
The 24-hour message volume on the Bigbear stream on Stocktwits was up over 500%. Retail sentiment toward Bigbear stock improved to ‘extremely bullish’ by early Tuesday from ‘bullish’ a day ago.
The chatter on the platform centered around a recent disclosure by Rep. Lisa McClain (R-Mich.) regarding the purchase of Bigbear stock worth between $15,000 and $50,000 as part of a 401K account held with Charles Schwab.
The trade was done on Aug. 7, with the disclosure coming along with a series of other transactions filed by the representative on Friday. An X handle, going by the name Nancy Pelosi Stock Tracker, said this was the first time a politician had bought Bigbear shares, and that the company earned the majority of its revenue from government contractors.
In mid-August, when Bigbear released its second-quarter results, it lowered its full-year guidance due to disruptions in federal contracts from efficiency efforts, most notably in programs that support the U.S. Army, as it seeks to consolidate and modernize its data architecture.
Incidentally, McClain’s purchase was made a few days before the earnings report was published.
Kevin McAleenan, Bigbear’s CEO since January, has previously worked with U.S. national security agencies, including the U.S. Department of Homeland Security (DHS) during the first Trump administration. He has also served as the Commissioner of U.S. Customs and Border Protection.
A bullish watcher said $4.75 is the bottom line for Bigbear stock but looked ahead to a “bullish ride.” The stock settled the previous session at $5.09.
Another user referred to the Congresswoman’s stock purchase and wondered whether that was sort of an indication that the company might land more government contracts.
Bigbear stock has gained more than 14% this year.
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