Why Is Verra Mobility Stock Trading Higher Today?

Verra Mobility VRRM shares are trading higher after the company announced it received authorization to proceed with an order for 720 additional school zone speed cameras for the New York City Department of Transportation.

"This authorization is related to Mayor DeBlasio's May 24, 2019 announcement regarding NYCDOT's intention to rapidly and substantially scale up its school zone speed-camera program," the company said in the press release.

Verra Mobility Corp provides smart transportation solutions. The company develops and uses technology and data intelligence to help make transportation safer and easier. 

The stock was trading 4.46% higher at $14.05 per share at the time of writing. The stock has a 52-week high of $15.38 and a 52-week low of $8.20.