GEO Group, CoreCivic Shares Climb After Trump Assassination Attempt
By Sabela Ojea
Shares of prison services companies GEO Group and CoreCivic rose following Saturday's attempted assassination of former President Donald Trump.
Geo shares were up 8.8% at $17.34 on Monday, and CoreCivic stock traded 7.8% higher at $14.38.
The stock moves come after Wedbush Securities analysts Jay McCanless and Brian Violino said the companies would benefit from Republican Party policies if Trump wins the general election. Trump would likely look to provide as many resources as possible to both the public and private sector when it comes to border security, with a focus on physical detention, the analysts said in a research note on Friday.
Congressional Republicans are expected to continue to push for incremental funding for Immigration and Customs Enforcement detention centers, while Democrats are set to push back against the use of private detention operators for federal service, the analysts added.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
July 15, 2024 13:39 ET (17:39 GMT)
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