Verra Mobility shares slide 70% after Avis drops out
Verra Mobility shares plunged 71.4% to $3.74 after Avis Budget said it will end its contract in September 2026. Avis accounted for over 10% of Verra’s revenue in early 2025. Verra cut its 2026 forecast, projecting a $135–$145 million annual revenue hit. Deutsche Bank, Baird, and JPMorgan downgraded the stock following the announcement.