BUZZ-Target Hospitality set for worst day on record after government cancels contract

Shares of accommodation and hospitality service provider Target Hospitality TH.N tumble 51% to $4.50, the lowest in nearly three years and on track for worst day on record

Co says U.S. government intends to terminate Pecos Children's Center services agreement with Target's Hospitality's nonprofit partner

TH withdraws preliminary 2025 financial outlook after contract termination

TH had provided facilities for up to 6,000 people for center

Co says pursuing other opportunities, including supporting the U.S. government's current immigration policies

Trump administration has been directing immigration agents to track down migrant children who entered the United States without their parents, expanding mass deportation efforts, Reuters reports

Including day's moves, TH down over 52% YTD