Private Prison Stocks Surge After Trump Victory
Stock prices for the country’s two largest private prison contractors skyrocketed Wednesday after GOP nominee Donald Trump claimed victory in the U.S. presidential election. The largest private prison contractor, CoreCivic ― which recently changed its name from Corrections Corporation of America ― saw its stock shoot up by more than 58 percent shortly after morning trading began. Stocks for the second largest contractor, GEO Group, rose by more than 28 percent. Over the next few hours of trading, both stocks came down somewhat from those peaks, but remained strong.