Booz Allen Hamilton Holding Corporation (NYSE: BAH)
Booz Allen Hamilton looked like it was going to have a great day in the market today, based on pre-market activity. In fact, the stock opened the day in the green. However, since the open, we’ve seen dramatic declines, bringing it well into the red. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to BAH ahead.
What We’re Seeing From BAH
As mentioned above, Booz Allen Hamilton isn’t having the best of days in the market today. While the stock did incredibly well in pre-market trading, opening the day off in the green, we’ve seen dramatic losses since the opening bell. Currently (9:39), BAH is trading at $35.95 per share after a loss of $0.12 per share (0.33%) thus far today.
Why The Stock Is Falling
As usual, our friends at Trade Ideas were the first to notify us of the movement on BAH. As soon as they did, the CNA Finance team started digging to see what was causing the movement. While we were unable to find any fundamental news that would lead to such a spike downward, we were able to find something interesting in social.
At the moment, in the social realm, there’s a big rumor surrounding Booz Allen Hamilton. That rumor is that there is a current ongoing investigation into a new data breach. Now, these rumors are unconfirmed. In most cases, unconfirmed rumors lack validity. Nonetheless, the concerns with regard to a possible data breach investigation seem to be what’s leading the stock downward.
What To Watch Ahead
Moving forward, the CNA Finance team will be keeping a close eye on BAH. In particular, we’re interested in seeing how these rumors pan out. While most rumors prove to be false, this could also prove to be a big hit to the company. We’ll keep a close eye on the stock and bring you the updates as they break!
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[Image Courtesy of Flickr]