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GEO Group Shares Surge 42%, CoreCivic Up 29% Following Trump's Election Victory

Nov 7, 2024, 05:29 PM

Shares of GEO Group Inc. ($GEO) surged significantly following Donald Trump's election victory, reflecting investor optimism regarding the company's potential benefits from Trump's immigration policies. After hours trading on November 6 saw the stock rise by 20%, with subsequent reports indicating a total increase of 32% on that day. By November 7, the stock had climbed another 10%, bringing its overall gain to approximately 42% since the election. CoreCivic Inc., another private prison company, also experienced a notable rise, with its shares increasing by 29% amid similar expectations. Analysts suggest that the anticipated implementation of Trump's plans for mass deportation could lead to substantial financial gains for private prison operators, as the political landscape shifts favorably for these companies.