Prison operators climb after Trump's crackdown on illegal immigration

Geo

21/01/2025 11:21

** Shares of immigration detention center operators GEO
Group  GEO.N  and CoreCivic  CXW.N  rise in premarket trading
    ** GEO gains 3.6% to $36.61, while CXW up 6.7% at $24.59
    ** President Donald Trump signed orders declaring illegal
immigration at the U.S.-Mexico border a national emergency and
targeting automatic citizenship for U.S.-born children of
immigrants in the country illegally
    ** Trump's stance on immigration can boost need for
detention facilities, benefiting prison operators
    ** CXW up ~75% since Trump won Nov. 5 U.S. election; GEO up
~150% during the period

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))