Private Prison Stocks Soar After Trump Win on Deportation Plans
- Millions could face detention, deportation under new policies
- GEO Group CEO cites unprecedented opportunity on earnings call
Private prison stocks soared Wednesday and Thursday as the companies eyed a potential bonanza from President-elect Donald Trump’s pledge to carry out the largest mass detention and deportation of immigrants in US history.
“We expect the incoming Trump administration to take a much more aggressive approach regarding border security as well as interior enforcement, and to request additional funding from Congress to achieve these goals,” George Zoley, the founder and executive chairman of GEO Group Inc., said on an earnings call Thursday.