<div id="readability-page-1"><p>Parsons (PSN) stock fell hard on Friday after the technology-driven solutions provider in the critical infrastructure and defense sector didn't receive a government contract. The contract that the company missed out on was for an upgrade to the U.S. air traffic control system. Instead, it went to private company Peraton.</p><h3>TipRanks Cyber Monday Sale</h3><ul><li> Claim 60% off TipRanks Premium  for data-backed insights and research tools you need to invest with confidence.  </li><li>  Subscribe to TipRanks' Smart Investor Picks  and see our data in action through our high-performing model portfolio - <u> now also 60% off </u></li></ul> <p>Parsons investors had high hopes that the company would receive this contract, which is part of President Donald Trump's One Big Beautiful Bill Act. Included in this is a provision of $12.5 billion to update the country's air traffic control systems. Now that the actual recipient of the contract has been announced, PSN shareholders aren't taking the news well, explaining why the stock is down today.</p> <p>While Parsons couldn't lock down the air traffic control contract, it did get one from the Defense Threat Reduction Agency. It was granted the Cooperative Threat Reduction Integration Contract IV, which is an indefinite-delivery, indefinite-quantity (IDIQ) multiple award task order contract that has a ceiling value of $3.5 billion. The base timeframe of the contract is five years with an option to extend the contract for another five years.</p> <h2><strong>Parsons Stock Movement Today</strong></h2> <p>Parsons stock was down 21.25% in pre-market trading on Friday, following a 1.88% rally yesterday. The stock has decreased 8.44% year-to-date and 13.84% over the past 12 months.</p></div>

<p>Parsons (PSN) stock dropped 21.25% in pre-market trading after failing to secure a U.S. air traffic control system contract, which went to Peraton. The missed contract was part of a $12.5 billion provision in President Trump's One Big Beautiful Bill Act. Despite this, Parsons secured a $3.5 billion contract from the Defense Threat Reduction Agency. The stock has decreased 8.44% year-to-date and 13.84% over the past 12 months.</p>

Why Did Parsons Stock (PSN) Plummet Today?