BigBear.ai Stock Surges After-Market As New CEO With Trump-Era Ties Sparks Retail Optimism For Government Deals
McAleenan’s appointment signals a strategic shift for BigBear.ai as retail investors anticipate that the company will likely leverage his government experience to expand its defense contracts.
FollowBigBear.ai Holdings Inc. (BBAI) surged more than 15% in after-market trading on Wednesday following the announcement that Kevin McAleenan, the company’s president, has been appointed as its new CEO.
McAleenan, who previously served as the Acting Secretary of the U.S. Department of Homeland Security during Donald Trump’s first presidential term, will also join BigBear.ai’s board effective immediately.
He replaces Mandy Long, who served as CEO for over two years and will transition into an advisory role.
The leadership change comes days before President-elect Donald Trump’s return to office, fueling expectations that McAleenan’s government experience could position the company to secure more federal contracts.
BigBear.ai Inc. Sentiment and Message Volume on Jan.15 as of 8:15 a.m. ET | Source: Stocktwits
On Stocktwits, retail sentiment around the stock turned ‘bullish’ from ‘bearish’ a day ago, as chatter picked up to ‘high’ from ‘normal’ levels.
Most users on the platform anticipate McAleenan’s appointment as CEO could bring in more government contracts, given his past experience with the Trump administration.
“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,” said Peter Cannito, chair of BigBear.ai’s board.
McAleenan joined BigBear.ai after co-founding Pangiam, where he served as CEO and chair of the board, focusing on advanced biometric and AI-driven security technologies.
As BigBear.ai’s president, he has overseen the development of tools like computer vision, simulation, and modeling systems to support the critical security needs of government and commercial customers.
BigBear.ai, an AI-powered decision intelligence solutions company, caters to sectors including defense and national security. Key clients include the U.S. intelligence community, the Department of Defense (DOD), and the U.S. Army.
The company recently secured a $165.15 million, five-year contract with the U.S. Army for Global Force Information Management.
BearBear.ai’s stock has risen over 83% in the past year.
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