Thanks to President Donald Trump, America’s private prisons appear to be entering a golden age.
The stocks of the two biggest private prison operators — CoreCivic (formerly know as Corrections Corp. of America) and Geo Group — have doubled since election day. CoreCivic (CXW) is up 140% since Trump won in November; Geo Group (GEO) has risen 98%. For all the talk about how good Trump has been for big banks like Goldman Sachs, he’s been even better for private prison investors.