Why Booz Allen Hamilton Stock Was Up Big in April
Defense contractors, and in particular the specialists that run information technology (IT) systems for the federal government, have been under pressure as the effort known as the Department of Government Efficiency (DOGE) looks for ways to cut costs.In April, DOGE began to walk back some of its initial goals, and the defense stocks moved in the other direction. Shares of Booz Allen Hamilton (NYSE: BAH), a top IT specialist, gained 14.8% for the month, according to data provided by S&P Global Market Intelligence, as investor concerns about cuts began to ease.In theory, DOGE could be either a revenue drain or a windfall for IT specialists like Booz Allen Hamilton. On one hand, the government spends a lot of money on contractor services, and DOGE is looking for contracts to cut.Continue reading
Defense contractors, and in particular the specialists that run information technology (IT) systems for the federal government, have been under pressure as the effort known as the Department of Government Efficiency (DOGE) looks for ways to cut costs.
In April, DOGE began to walk back some of its initial goals, and the defense stocks moved in the other direction. Shares of Booz Allen Hamilton (NYSE: BAH), a top IT specialist, gained 14.8% for the month, according to data provided by S&P Global Market Intelligence, as investor concerns about cuts began to ease.
In theory, DOGE could be either a revenue drain or a windfall for IT specialists like Booz Allen Hamilton. On one hand, the government spends a lot of money on contractor services, and DOGE is looking for contracts to cut.
