Market Overview

Prison Stocks Spike 15-20% Following Trump Victory

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Prison Stocks Spike 15-20% Following Trump Victory
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Although the overall market sentiment has remained weak after the victory of Donald Trump, some shares are witnessing strong gains. For instance, prison shares are trading significantly higher in Wednesday's pre-market session.

Two notable names in the space include Corrections Corp Of America (NYSE: CXW) and The GEO Group Inc (NYSE: GEO).

About an hour before the opening bell, GEO Group was up 16.12 percent at $27.73.

For its part, Corrections Corp was up 21.56 percent at $17.27.

Recent Headlines

  • GEO Group reported its Q3 last week, raising its FY 2016 adjusted FFO outlook to $3.65–$3.67. It's normalized FFO for Q3 came in at $0.79.
  • GEO has witnessed volatility in light of the election, as recently as two weeks ago.
  • Corrections Corp has seen insider trading this week.
  • Corrections Corp reported Q3 Normalized FFO at $0.69 and sees FY16 NFFO at $2.59–$2.60.
  • Like GEO, Corrections Corp has seen volatility leading up to the election.

Posted-In: prison stocksNews Politics Movers Trading Ideas General Best of Benzinga

 

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