Why GEO Group And CoreCivic Are Trading Lower Today

The GEO Group GEO and CoreCivic CXW shares are trading lower on Tuesday after President Joe Biden signed four executive orders including prison reform. Biden directed the Attorney General to not renew any of the Justice Department's contracts with private prisons.

GEO is a real estate investment trust specializing in detention facilities and community-reentry centers. The company leases and oversees secure detention centers, rehabilitation and reentry facilities, and service centers for troubled youth.

GEO shares traded down 12.33% to $7.04. The stock has a 52-week high of $18.42 and a 52-week low of $6.70.

CoreCivic through its subsidiaries operates as a diversified Corrections Corporation of America, or CCA is a real estate investment trust involved in the ownership and operation of private prisons. CCA mainly controls medium-security correctional and detention facilities located throughout the U.S.

CoreCivic shares traded down 7.51% to $6.16. The stock has a 52-week high of $17.90 and a 52-week low of $5.76.