Branson Brooks
Executive Mosaic’s GovCon Index closed at an average of $5,160.07 for the week after sustaining a significant 9.31% weekly loss.
The index ended the period 1.78% lower than the previous record-setting week.
GovCon Index allows site visitors to gain real-time insight into the stock market performance of 30 major government contracting organizations. The data it provides will enable users to learn about each tracked company’s financial status while looking into critical trends transforming today’s GovCon marketplace.
Weekly Performance
Despite the decline from the week before, Palantir Technologies, GCI’s top performer in 2024, increased 11.14% before the weekend and advanced 12.64% in five days.
The week was filled with losses for the rest of the companies. Science Applications International Corporation and KBR dropped more than 14%, while ICF led Friday’s decliners with an 11.48% loss. Leidos lost 13.6% on Thursday and 19.24% in five days.
Market analysts think the decrease in defense and government contractor stocks was caused by uncertainty over potential policy changes in the federal contracting landscape for the upcoming year. The newly proposed Department of Government Efficiency could lead to significant cuts for contractors as part of its mission to reshape government spending.
Check out last week’s market reports to get a closer look at daily GovCon Index performance. To look at the complete list of tracked organizations, visit GovConIndex.com.
