U.S. retail investors focus on the new target, the prison stock soared 73%

U.S. retail investors focus on the new target, the prison stock soared 73%
Shares of geogroup, the U.S. private prison operator, surged 73 percent to $11 on Wednesday, closing up 38.36 percent at $8.80. Although the company is struggling to survive in a world increasingly hostile to private prison operators. President Biden’s government plans to cut ties with the industry, and banks, including Bank of America, have promised not to finance prisons. S & P also lowered geo’s credit rating in March, pointing out that prison operators face “continuing social and governance risks.”. Earlier this year, a bond sale plan for a private prison company in Alabama was cancelled because of opposition from radical groups. However, for the Wall Street bets Forum on reddit and other retail investors on social media