Shares of private prison operators Geo Group (GEO) and CoreCivic (CXW) are rallying after President Trump last night reversed a Biden administration criminal justice policy via an executive order. Trump reversed Biden’s Executive Order 14006, which had eliminated Justice Department contracts with privately operated criminal detention facilities. Shares of Geo Group are up 3% to $36.49 in premarket trading while CoreCivic is up 8% to $24.94.
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