Originally Posted By: getthesenets
Originally Posted By: RollinBones
Justice Department says it will end use of private prisons

https://www.washingtonpost.com/news/post...m=.0b1a044da130

Great news.. Can't believe anyone ever thought having for-profit prisons would be a good idea..


effect of the decision on stock prices of private prison corporations

http://www.marketwatch.com/story/private...-use-2016-08-18

8/18/16

Corrections Corp. of America CXW, +8.59% shares dropped 35% to close at $17.57, after touching an intraday low of $13.04, on volume of nearly 40 million shares, compared with an average daily volume of 810,000 shares over the past 52 weeks. It was the lowest close for the stock since July 31, 2009, when it finished at $17.26, according to FactSet.

GEO Group Inc. GEO, +21.37% shares fell 40% to close at $19.51, after touching an intraday low of $16.26, on volume of more than 25 million shares, compared with an average daily volume of 511,000 shares over the past 52 weeks. It was the stock’s lowest close since April 10, 2012, when it finished at $19.50.

In after-hours activity Thursday, Corrections shares were up 6% at $18.64, and GEO shares advanced 4.8% to $20.33.


It will be interesting to see the effects of this over the next few months, I could be wrong but I believe we are at an all time high currently wonder if/how this will cause a drop

The Dude: And, you know, he's got emotional problems, man.
Walter Sobchak: You mean... beyond pacifism?


Walter Sobchak: This guy f*cking walks. I've never been so sure of anything in my entire life