Did President Biden Just Kill Off CoreCivic and GEO Group?
Among the flurry of executive orders President Joe Biden issued in the first days of his presidency was one directing the Justice Department to not renew its contracts with private prison operators. That could severely affect CoreCivic (NYSE: CXW) and GEO Group (NYSE: GEO), both of which generate a substantial portion of their revenue from federal government contracts.
However, since the executive order is for non-renewal and not immediate cancellation, it doesn't mean Biden has killed off the private prison industry -- at least, not yet.
Source Fool.com
