With Biden returning to White House, private prison stock falls

As the outcome of Tuesday’s presidential election began pointing toward a Biden-Harris administration, private prison companies took a financial hit. Over a few days, CoreCivic and GEO Group, the two largest private prison companies in the United States, saw their stock prices drop substantially. Both companies had benefited from the Trump administration’s hard-line immigration policies.

In just a few days, though, investors seem to have grown concerned about the future of the private prison ...