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Why CoreCivic and the GEO Group Both Rallied Over 10% Today

Why CoreCivic and the GEO Group Both Rallied Over 10% Today

Shares of prison operators CoreCivic (NYSE: CXW) and The GEO Group (NYSE: GEO) rose 11% and 12%, respectively, in early trading on Jan. 27. Both CoreCivic and The GEO Group do something that the government could, and often does, do itself: operating prisons. Hiring private companies to do this work has come under increasing scrutiny, pushing the shares of these companies notably lower over the past year.