Trump's border czar pick fuels private prison stock surge
On Monday, Donald Trump announced that Tom Homan will serve as the "border czar," responsible for border security and "deportations of illegal foreigners." This announcement caused the stocks of two corporations managing private prisons in the U.S. to soar, reports CNN's website.
9:02 AM EST, November 12, 2024
The stocks of the two largest corporations listed on the American stock exchange, GEO Group and CoreCivic, which manage their penitentiary facilities, rose significantly after Trump announced another of his nominations.
Trump wrote on the Truth Social platform that the former head of Immigration and Customs Enforcement (ICE), Homan, will join his administration and be in charge of American borders. The shares of GEO Group and CoreCivic rose by 4% and 6%, respectively.
CNN's website recalls that in July, Homan announced that he would "carry out the largest deportation operation America has ever seen" when Trump returns to office.
Analysts predict that a second Trump term could allow GEO Group and CoreCivic to secure contracts with U.S. services and the Federal Bureau of Prisons.
Trump counts on Homan: "He will do a great job"
The president-elect added that Homan will oversee the control of the southern and northern borders and "maritime and aviation security." He noted that the former ICE chief would be responsible for deporting illegal foreigners to their countries of origin.
He expressed confidence that 62-year-old Homan "will do a great, long-awaited job." Observers predicted that Homan would join the new administration as the person responsible for border security matters.
Last week, CNN's website reported that Trump's associates are quietly preparing for the deportation of migrants residing in the United States without authorization. The report recalled that issues of illegal migration were the core of Trump's campaign.
"We will know who to arrest"
In a recent interview with CBS, Homan assured us that the plans involve "targeted arrests." "We'll know who we're going to arrest, where we're most likely to find 'em based on numerous... investigative processes," he announced.
According to CNN, the Department of Homeland Security, responsible for deportations among other tasks, is gearing up for a "seismic shake-up" in immigration policy.
