What's Going On With BigBear.AI Stock Thursday?

BigBear.ai Inc BBAI shares are rising Thursday morning after the AI-powered decision intelligence company announced a CEO transition.

What To Know: BigBear.ai announced the appointment of Kevin McAleenan as CEO and a member of the company's board, effective Jan. 15. McAleenan has replaced Mandy Long, who is transitioning to an advisory role with the company.

Before the announcement, McAleenan was BigBear.ai's president. He previously served as Commissioner of U.S. Customs and Border Protection, where he focused on counterterrorism, border security and immigration enforcement. McAleenan also previously served as Acting Secretary of the U.S. Department of Homeland Security during President-elect Donald Trump's first administration.

“The demand for differentiated artificial intelligence solutions to provide strategic advantage in government and business is strong and the combination of recent technological achievements and strategic contract awards have positioned BigBear.ai as a leading AI solutions provider focused on national security imperatives,” said Peter Cannito, chair of BigBear.ai's board.

“Having served at the highest levels of government, Kevin brings an intimate understanding of current national security priorities and the challenges faced by our mission partners, providing BigBear.ai with a deep understanding of how artificial intelligence can be most effectively leveraged to maximize impact.”

BigBear.ai reported a 22.1% revenue increase in its most recent quarter, bringing in $41.5 million during the period. The company guided for full-year 2024 revenue of $165 million to $180 million. BigBear.ai is not due to report fourth-quarter results until early March. Analysts currently expect the company to report a loss of 4 cents per share and revenue of $54.48 million, according to estimates from Benzinga Pro.

See Also: Quantum Computing Stocks Continue Their Wild Surge In Thursday Premarket: QUBT Up 15%, QBTS Climbs 9%, RGTI Gains Over 3%

How To Buy BBAI Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in BigBear.ai's case, it’s in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

BBAI Price Action: BigBear.ai shares were up 11.2% at $3.77 at the time of publication Thursday morning, according to Benzinga Pro.

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