CoreCivic (NYSE:CXW) stock gained 3.3% in Wednesday after-hours trading after the company entered agreements with the city of Dilley, Texas, and U.S. Immigration and Customs Enforcement to resume operations at the South Texas Family Residential Center in Dilley.
The Trump administration is expected to use thousands more beds in these facilities as part of its mass deportation effort.
Noble Capital analyst Joe Gomes notes that CoreCivic (CXW) announced a new intergovernmental agreement to resume operations at the 2,400-bed
2don MSN
A privately-owned immigration detention facility in south Texas, designed to house families for U.S. Immigration and Customs Enforcement, will reopen.
Shares of Target Hospitality and CoreCivic rose after the two companies signed an agreement to resume operations using CoreCivic existing assets in Texas. Shares of Target Hospitality were 11% higher in premarket trading at $6.16. CoreCivic shares rose by 4.8% to $19.29.
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