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Dear Fellow Investor,
Company: The GEO Group, Inc. (SYM: GEO)
Earlier this month, we said, “Private prison stocks have been explosive including GEO Group, which engages in ownership, leasing, and management of secure facilities, processing centers, and community-based reentry facilities in the United States, Australia, the United Kingdom, and South Africa. Since November, GEO gapped from about $15 to a recent high of $31.07. From here, we do expect to see it race even higher under Trump.”
From $31.07, GEO tested a high of $36.46.
Now back to $33.45 there’s still opportunity with recent arrests and deportations.
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For one, we have to consider that Geo Group will benefit from contracts with the U.S. Immigration and Customs Enforcement (ICE).
In addition, President Trump has “promised to invoke the Alien Enemies Act to ‘remove all known or suspected Gang Members, drug dealers, or Cartel Members from the United States,’ and shift law enforcement to immigration enforcement,” as reported by Fox News.
We also have to consider that Geo Group has a history of running with President Trump.
When he was elected in 2016, the private prison industry rocketed higher. CNBC, at the time, even noted that a Republican sweep was a game-changer for the private prison industry. This time around, Trump has promised to undertake a sizable deportation operation, which should directly and positively impact Geo Group.
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In addition, while we’re not sure of the exact number of people who could face deportation, it is estimated to be in the hundreds of thousands, says NBC News.
Plus, as noted by GEO Executive Chairman George Zoley in a company earnings call:
“GEO is the single largest contractor to ICE with almost four decades of partnership and provides approximately 40% of the secure beds for ICE. We are well-positioned to scale up our secure residential care housing from current 13,500 beds to over 31,000 beds. The GEO Group was built for this unique moment in our company's -- country's history and the opportunities that it will bring.”
In addition, according to the company, “GEO’s worldwide operations include the ownership and/or delivery of support services for 99 facilities totaling approximately 80,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.”
GEO also just announced a $70 million investment to expand its detention capacity, secure transportation, and electronic monitoring services to ICE. Currently, GEO is the biggest service provider to ICE, providing about 21,000 detention beds at 16 ICE facilities with the ability to expand to 32,000 bets at 23 facilities. GEO also provides electronic monitoring and case management services for about 185,000 people.
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