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BUZZ-Prison operators climb after Trump's crackdown on illegal immigration

ReutersJan 21, 2025 11:21 AM

** Shares of immigration detention center operators GEO Group GEO.N and CoreCivic CXW.N rise in premarket trading

** GEO gains 3.6% to $36.61, while CXW up 6.7% at $24.59

** President Donald Trump signed orders declaring illegal immigration at the U.S.-Mexico border a national emergency and targeting automatic citizenship for U.S.-born children of immigrants in the country illegally

** Trump's stance on immigration can boost need for detention facilities, benefiting prison operators

** CXW up ~75% since Trump won Nov. 5 U.S. election; GEO up ~150% during the period

(Reporting by Medha Singh)

((medha.singh@thomsonreuters.com))

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