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CoreCivic, Geo Group Rally By Double Digits Since Election Day: Why Trump Boosts Private Prison Stocks


Published on 2024-12-26 16:01:57 - MSN
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  • President-elect Donald Trump's second term could provide for-profit prisons an economic and regulatory boon amid Trump's plans to deport people living in the country illegally. Private Prisons: Corecivic Inc (NYSE:CXW) and Geo Group Inc (NYSE:GEO) are the two largest private prison operators in the United States.

The article from MSN discusses the significant surge in stock prices for CoreCivic and GEO Group, two major private prison companies, following the 2024 U.S. election where Donald Trump was elected. Since Election Day, shares of CoreCivic have risen by 23%, and GEO Group's stock has increased by 33%. This rally is attributed to expectations that a Trump administration would favor policies beneficial to the private prison industry, such as tougher immigration enforcement and the reversal of previous restrictions on private prison contracts. Trump's previous term saw a reversal of Obama-era policies that aimed to phase out private prison use by the federal government, and his campaign promises to expand immigration detention facilities have further fueled investor confidence in these companies. The article also notes that while the stocks have rallied, the long-term outlook for private prisons could still be influenced by broader societal and political shifts towards criminal justice reform.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/corecivic-geo-group-rally-by-double-digits-since-election-day-why-trump-boosts-private-prison-stocks/ar-AA1wx9BU ]