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Prison operators fall after Democrats sweep Congress

By Reuters News

** Shares of US prison operators fall in premarket trading after democratic sweep in US midterm elections

** Democrats won control of both the Senate and House on Tuesday, flipping Republican strongholds for the first time in generations, in a major setback for President Donald Trump

** Prison operators The GEO Group GEO.N and CoreCivic CXW.N fall 6.7% and 5%, respectively

** The two stocks have rallied sharply since Trump won the presidency two years ago, as his clampdown on illegal immigration boosted the need for detention facilities

** CXW has more than doubled in value since Trump's election win in November 2024, while GEO has jumped nearly 86%

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