We recently published a list of 10 Firms That Soared Last Week. In this article, we are going to take a look at where BigBear.ai Holdings, Inc. (NYSE:BBAI) stands against other firms that soared last week.
Last week saw volatile trading in the stock market as investors scrambled to react from a series of positive and negative catalysts which sparked buying and selling positions across the board.
On Friday alone, Wall Street’s major indices fell into the red territory over renewed fears of growing trade tensions from some of the world’s largest economies, coupled with expectations of a higher inflation rate.
However, 10 firms defied a broader market slump, posting impressive gains in just a week’s trading.
To come up with last week’s biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A closeup of a computer server rack surrounded by a CAT5 network of cables.
BigBear.ai Holdings, Inc. (NYSE:BBAI)
Investors would have raked in a 102.6-percent increase in their investment had they invested in BigBear.ai’s stock last week, as the company ended Friday’s trading at $8.59 apiece, doubling its $4.24 price on January 31.
The jump followed announcements from BigBear.ai Holdings, Inc. (NYSE:BBAI) that it bagged a contract to advance its Virtual Anticipation Network (VANE) prototype for the Department of Defense.
The VANE prototype, which would use AI and machine learning, would compile vast amounts of data to forecast adversary actions in multi-domain environments and support US military and intelligence operations.
In particular, it would allow BigBear.ai Holdings (NYSE:BBAI) to support the Office of the Secretary of Defense in utilizing custom AI models to enhance its foreign news media assessment and analysis of countries that are deemed as US potential enemies.
Originally developed in collaboration with the Irregular Welfare Technical Support Directorate, VANE achieved “awardable” status on the CDAO Tradewinds Solutions Marketplace in April 2024.
Overall, BBAI ranks 1st on our list of firms that soared last week. While we acknowledge the potential of BBAI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as BBAI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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