Target Hospitality stock drops 25% after losing government contract worth $60 million

From Investing.com: 2025-02-24 07:39:28

Shares of Target Hospitality Corporation (THC) plummeted by 25% after the company announced that the U.S. Department of Homeland Security terminated its contract for housing migrants at a facility in Texas. The contract was worth $60 million and accounted for 10% of THC’s revenue in 2021.



Read more at Investing.com: Target Hospitality stock tumbles on government contract termination