Private prison stocks, particularly GEO Group and CoreCivic, surged dramatically after the election results indicated a Republican victory, reflecting investor confidence and anticipated policy changes.
The significant stock price increase—42% and 29% for GEO Group and CoreCivic respectively—illustrates how market investors reacted positively to the potential expansion of private prison operations.
George Zoley, CEO of GEO Group, expressed optimism about the private prison sector, indicating the company was positioned to capitalize on potential increases in inmate populations.
The report highlighted by the Sentencing Project reveals that private prisons currently house about 8% of the U.S. prison population, indicating both their significant role and potential for future growth.
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