New York, Feb 9, 2026, 09:49 EST — Regular session
- BigBear.ai (BBAI) slipped roughly 1% in early Monday action, giving back some ground after Friday’s strong bounce.
- All eyes are on the Feb. 18 shareholder vote, which has the potential to double the company’s authorized shares.
- Whipsaw trading in the stock is being fueled by heavy short interest and mounting legal scrutiny.
BigBear.ai Holdings slipped about 1% to $4.67 in early U.S. action Monday, with shares changing hands at 9:36 a.m. ET. After a sharp 15.7% rally Friday—coming right on the heels of a 17% two-day drop—the stock was seeing lighter volume, tallying roughly 2 million shares so far Monday. That’s a far cry from the more than 56 million traded on Friday. 1
Traders are now eyeing the shareholder vote—a deadline that’s been kicked down the road again and again since December. The outcome? Potentially a new cap on how much stock BigBear.ai can put on the market. The stock’s been a wild ride lately, too, with volatility dialed way up on the name.
This proposal centers on “authorized shares,” the upper limit on shares a company can issue under its charter. Bumping up that ceiling opens the door for management to tap fresh capital, use stock for employee compensation, or pursue acquisitions. There’s a flip side, though: issuing more shares down the line could dilute current holders.
BigBear.ai is set to pick up its special meeting again on Feb. 18 at 2 p.m. Eastern, this time virtually, according to a company filing. On the agenda: just one item—the push to double authorized common shares to 1 billion from 500 million. Shareholders can keep casting electronic votes through 11:59 p.m. ET on Feb. 17. The record date for voters stands at Oct. 14, 2025. 2
Chief Financial Officer Sean Ricker, writing in a blog post to shareholders, emphasized that approval wouldn’t trigger an immediate issue of new shares or change the number of shares outstanding right away. He added that “very few shares remain” under the current authorization, with the company having reached “97% of the way” to the required votes as of Jan. 15. 3
Chief Executive Kevin McAleenan called the vote a pragmatic move for a company pitching AI tech to government buyers. “Our government customers need the most advanced AI capabilities available to them now,” he wrote in a letter posted by the company. Proxy advisors ISS and Glass Lewis had both recommended shareholders vote “for,” he noted. 4
Still, that flexibility management touts is also casting a shadow. Investors usually hit small, cash-thirsty firms hard if there’s room for more stock to hit the market—even with no sale on the calendar.
There’s legal friction in the mix, too. On Feb. 3, Pomerantz LLP announced it was looking into potential investor claims. The firm pointed back to a Jan. 7 downgrade by Cantor, which flagged execution risks and the company’s dependence on unpredictable government deals. 5
Short interest is also in play. As of Jan. 15, MarketBeat pegged BigBear.ai’s short interest at roughly 23.6% of its public float, a setup that can intensify swings if shorts scramble to cover. The short-interest ratio came in around 1.3 days. For comparison, Palantir’s short interest was about 2.3%, according to MarketBeat’s peer data, while C3.ai showed a much steeper figure. 6
At this point, traders have their eyes on the Feb. 17 vote deadline, then quickly on the Feb. 18 meeting. However it shakes out, the outcome—and any follow-up filing showing if the proposal passed—will likely shape the tone for the rest of the week.
