GEO Group (GEO, Financial) shares saw a notable increase, climbing over 4% to $26.56. In contrast, CoreCivic (CXW) experienced a modest rise of 0.28%, reaching $21.58.
Under the Trump administration, there is a heightened possibility that the Federal Bureau of Prisons and the U.S. Marshals Service may enter contracts with private prison companies. Trump has indicated that Tom Homan, referred to as the "border czar," will oversee the deportation of all illegal immigrants. During Trump's first term, Homan led the Immigration and Customs Enforcement agency.
