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Benzinga
Benzinga
Business
Henry Khederian

Private Prison Stocks Geo Group (GEO) And CoreCivic (CXW) Surge After New Executive Order

GEO CoreCivic CXW GEO Group Prison Executive Order Donald Trump
Private prisons

Shares of major private prison operators GEO Group Inc (NYSE:GEO) and CoreCivic Inc (NYSE:CXW) are trading higher Friday afternoon. The rally follows a new executive order signed by President Donald Trump on Thursday aimed at addressing crime and homelessness, which investors see as a potential boon for the companies.

What To Know: GEO Group is a company that invests in and operates private prisons and mental health facilities, with U.S. federal agencies making up a substantial portion of its revenue.

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