President-elect Donald Trump‘s second term could provide for-profit prisons an economic and regulatory boon amid Trump’s plans to deport people living in the country illegally.
Private Prisons: Corecivic Inc (NYSE:CXW) and Geo Group Inc (NYSE:GEO) are the two largest private prison operators in the United States.
Geo Group owns 50 facilities and 64,502 beds across the U.S. concentrated in the South and Southwest. In 2023, CoreCivic operated 43 facilities with approximately 65,000 beds, according to company filings. The facilities include migrant detention centers and minimum-to-medium security prisons.
Private prisons are a topic of debate given their for-profit nature and alleged human rights abuses. According to the University of Chicago Law School, labor conditions in private prisons are poor. The majority of prisoners are forced to work, often for wages under a dollar per hour, or face solitary confinement or loss of visitation rights. The report found that prisoners produce at least $2 billion annually in goods and over $9 billion in maintenance services.
In August 2016, then-President …Full story available on Benzinga.com
CoreCivic, Geo Group Rally By Double Digits Since Election Day: Why Trump Boosts Private Prison Stocks
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