BUZZ-US prison operators surge as Trump elected US president

Reuters

2024-11-06

BUZZ-US prison operators surge as Trump elected US president

** Shares of U.S. prison operators surge in premarket trading after Republican Donald Trump is elected U.S. president

** Trump recaptures the White House by securing more than the 270 Electoral College votes needed to win the presidency, Edison Research projects

** Geo Group GEO.N jumps 25.8%, while CoreCivic CXW.N rises 24.5% premarket

** Trump has promised to crack down on illegal immigration if elected for a second term, which would benefit prison operators

** GEO set to open at more than a five-year high, and CXW set to open at more than a four-year high, if gains hold

** As of last close, GEO up ~39%, CXW down ~6% YTD

(Reporting by Ragini Mathur)

((Ragini.Mathur@thomsonreuters.com;))

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