Hillary Clinton may not be president, but she's moving the markets like she is one. For the second time in three weeks, the front-runner for the Democratic nomination wiped millions of dollars off the value of an industry with a single tweet.
On Friday, private prison stocks dropped sharply after Clinton said the U.S. needed to “end the era of mass incarceration.”
“We need to end private prisons. Protecting public safety...should never be outsourced or left to unaccountable corporations,” she said in a tweet drawn from comments she made during a speech on the criminal justice system in Atlanta.
Corrections Corp. of America fell more than 6 percent, lopping off approximately $200 million in value, while GEO Group Inc. dropped 4.2 percent, losing about $100 million.
Earlier this month, biotech stocks tanked after Clinton slammed Turing Pharmaceuticals for increasing the price of a drug by 50 fold. “Price gouging like this in the specialty drug market is outrageous,” she tweeted at the time.
It was not the first time she's voiced concerns about private prisons and earlier this month her campaign said it would no longer take donations from the industry's lobbyists and PACs.