Why Shares of Booz Allen Hamilton Are Sinking Today

Treasury Secretary Scott Bessent cancelled all department contracts with Booz Allen Hamilton, citing a broader effort to eliminate 'waste, fraud, and abuse.'Shares of the large tech consulting company Booz Allen Hamilton Holding Corp (BAH 10.90%) traded nearly 11% lower, as of 2:09 p.m. ET today. The move came after the U.S. Treasury Department cancelled all contracts with the company, which is known for its extensive government work.Retribution for past data leakTreasury Secretary Scott Bessent said the de ...