Jail stocks in the United States are soaring, with value of two such stocks nearly doubling in just days.
The trigger: Republican leader Donald Trump’s return to the White House as the President of the United States.
So, in just a few sessions, shares of GEO Group which invests in private prisons in US, UK and other countries have risen over 80 percent.
Shares of CoreCivic, which owns and manages private prisons and detention centres, have also seen a similar surge since Trump’s victory.
But what’s the connection between President Elect Trump and the surge in these jail stocks?
Well, Wall Street expects these companies to benefit from Trump’s poll pledge to carry out mass detention and deportation of immigrants.
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