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Warren’s Pledge to End Private Prisons Sends Shares Reeling

June 21, 2019, 4:50 PM

Shares of private prisons GEO Group Inc. and CoreCivic Inc. took a hit June 21 after presidential candidate Senator Elizabeth Warren tweeted about about her plan to terminate them.

GEO slid as much as 5.8%, its biggest intraday loss since March, and CoreCivic retreated as much as 6%, the largest intraday decline this year.

Warren, a Massachusetts Democrat, said in a tweet that “private prison companies have spent millions to turn our criminal and immigration policies into ones that prioritize making them rich instead of keeping us safe —with terrible consequences. Today I’m announcing my plan to end this ...