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Private prison stocks soar following Trump victory

By Kelly Cohen
Published November 9, 2016 8:05pm ET
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Private prison stocks soar following Trump victory
Following the announcements at the end of August, CCA had lost $1.2 billion in market capitalization and the GEO Group was out $917 million. (AP Photo/Charlie Litchfield, File) | Charlie Litchfield

The two private-prison companies in the United States on Wednesday were reaping the benefits of a Donald Trump victory.

Stock for CoreCivic, formerly known as Corrections Corporation of America (CCA), was up 48 percent as of 2 p.m. Eastern time. GEO Group rose 21 percent.

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Biden Transition Criminal Justice Reform Donald Trump Kelly Cohen Law Minusextra Police and Law Enforcement Wall Street