Private-prison stocks have fallen during President Donald Trump’s tenure and the prospect of a leadership change has brought further losses. CoreCivic Inc. and Geo Group Inc. went into Election Day below their lows of 2016, when the Barack Obama administration ordered the Federal Bureau of Prisons to phase out use of the facilities. While the Trump administration reversed the decision in February 2017, CoreCivic and Geo failed to sustain gains tied to the ruling. CoreCivic fell 14% and Geo lost 11% on Wednesday as Trump trailed Joe Biden, Obama’s vice president, in his reelection bid.
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