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Latin Times
Latin Times
Business
Michelly Teixeira

Private Prison Stocks Soar Further After Trump Confirms Deportation Hawk Tom Homan as 'Border Czar'

Donald Trump Thomas Homan CoreCivic Prison GEO Group Ice the GEO Group Immigration
Thomas Homan, former ICE director, tapped by Trump as 'border czar' to oversee U.S. immigration enforcement and deportations. (Credit: Photo by Chip Somodevilla/Getty Images)

The appointment of Thomas Homan as Donald Trump's "border czar" has led private prison stocks to soar even further. On Monday, shares of The Geo Group rose over 6%, and those of CoreCivic climbed nearly 8%, fueled by investor expectations of increased demand for detention services and stricter immigration enforcement under Trump's upcoming administration.

In a post on Truth Social, Trump announced that Homan, the former acting director of U.S. Immigration and Customs Enforcement (ICE), would be in charge of deporting illegal immigrants and overseeing U.S. border security. This includes both the southern and northern borders, as well as maritime and air security.

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