Wall Street investors have seen the value of their holdings in stocks of private prison operators plummet as President Donald Trump’s mass deportation push fails to hit hoped-for highs, according to Bloomberg. Shares of the two largest private prison operators in the country, Geo Group Inc. and CoreCivic Inc., have crashed a year after skyrocketing in anticipation of Trump’s huge deportation drive. Twelve months on, his border czar Tom Homan—parachuted in after Border Patrol commander Gregory Bovino became a liability—said operations in Minnesota would be scaled back. So far in January, two U.S. citizens have been shot dead by ICE agents, while the newly launched Operation Catch of the Day, in Maine, was cut short. Bloomberg reports that the Department of Homeland Security has “fallen short of its goals when it comes to detaining immigrants despite high-profile enforcement actions.” It noted that while there were 40,000 people in ICE detention at the start of Trump’s presidency, that number has only risen to 73,000. Joe Gomes, an analyst at Noble Capital Markets, told the outlet, “Despite record funding that came through the One Big Beautiful Bill last year, the increase in detainees has risen slower than a lot of people had originally anticipated.”
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