Private prison stocks surge as Trump appoints border czar
On Monday, Donald Trump announced that Tom Homan will serve as the "border czar," responsible for border security and "deportations of illegal aliens." This prompted the stocks of two corporations managing private prisons in the U.S. to rise significantly on the stock exchange, as reported by CNN's portal.
Shares of the two largest corporations listed on the American stock exchange, which operate their own penitentiaries, GEO Group and CoreCivic, surged following Trump's announcement of his latest nomination.
Trump posted on the Truth Social platform that the former head of the Immigration and Customs Enforcement agency (ICE), Tom Homan, will join his administration and be responsible for American borders. Shares of GEO Group and CoreCivic increased by 4% and 6%, respectively.
In July, Homan stated that he would "conduct the largest deportation operation America has ever seen" when Trump returns to office, as CNN's portal reminds.
Analysts predict that Trump's second term could be an opportunity for GEO Group and CoreCivic to secure contracts with U.S. agencies and the Federal Bureau of Prisons.
Trump counts on Homan. "He'll do a great job"
The president-elect added that Homan is to oversee the southern and northern borders as well as "maritime and aviation security." He emphasized that the former ICE head will be responsible for "deporting illegal aliens to their home countries."
He expressed confidence that 62-year-old Homan "will do a great, long-awaited job." Observers predicted that Homan would join the new administration as a person responsible for border security issues.
Last week, CNN's portal reported that Trump's associates are discreetly preparing for the deportation of migrants residing in the United States without authorization. The service recalled that immigration issues were the cornerstone of Trump's campaign.
"We will know whom to arrest"
In a recent interview with CBS, Homan assured that plans involve "targeted arrests." "We'll know who we're going to arrest, where we're most likely to find 'em based on numerous... investigative processes," he announced.
According to CNN, the Department of Homeland Security, which is responsible for deportations, is preparing for a "seismic shift" in immigration policy.
