Those interested in buying in on AI stock BigBear.ai (NYSE:BBAI) got their chance recently. Based on the nearly 15% surge in share prices it saw in Friday’s trading, it was clear investors were interested. But it’s where those shares came from that proves particularly intriguing.
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BigBear announced that it was offering up a big new pool of available shares. Those shares—a whopping 113.25 million—came from current shareholders. By early this afternoon, about a fifth of those—over 22 million—had already found new homes in other investors’ portfolios. Meanwhile, BigBear itself won’t actually get anything out of the stock sale.
Interestingly, even BigBear’s own insiders have been selling, as detailed by insider trading figures. Indeed, they sold off $1.7 million worth of BBAI stock just in the last three months alone. As a result, sentiment among insiders is currently negative.
