Verra Mobility stock plummets after contract termination

EKA Mobility's stock experienced a sharp decline of approximately 45-46% on May 26, 2026, after the company announced the termination of a major customer contract with Avis Budget Group. This contract represented over 10% of EKA Mobility's annual revenue. Just twenty days prior, on May 6, 2026, EKA Mobility's CFO, Craig Conti, had reaffirmed the full-year 2026 revenue guidance of $1.02 billion to $1.03 billion, and CEO David Robert had described contract negotiations as 'ongoing and constructive'. Following the contract termination, EKA Mobility revised its FY-2026 revenue guidance downward by $135 million to $145 million, to a new range of $985 million to $995 million. This rapid change in guidance and the significant stock drop have prompted Levi & Korsinsky to initiate a securities investigation into EKA Mobility for potentially misleading investors.