Prison and Detention Stocks Sharply Higher Following Trump Win -- Market Talk

Dow Jones

2024/11/06

0822 ET - Companies that run prisons and detention facilities are sharply higher following Trump's election victory with GEO Group surging 27% and CoreCivic jumping 21% in premarket trading. Analysts at Wedbush recently noted that these companies could benefit as Trump would likely look to provide as many resources as possible to both the public and private sector when it comes to border security, with a focus on physical detention. Congressional Republicans are also expected to continue to push for incremental funding for Immigration and Customs Enforcement detention centers, they added.(denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

November 06, 2024 08:23 ET (13:23 GMT)

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