Well, there you have it my friends, the wild ride through this election season is coming to an end. Donald Trump will be the next President of the United States. Of course, this change will have global market implications, and stocks are already moving. In fact, one of the biggest movers I’m seeing at the moment is Corrections Corp Of America (NYSE:CXW).
If you owned the stock at the close of Tuesday’s session, you’re probably so happy you could cry right now. Today, we’ll talk about what we’re seeing from the stock, why Donald Trump’s win is pushing it skyward, and what we can expect to see from CXW ahead.
What We’re Seeing From CXW
As mentioned above, Corrections Corp Of America (NYSE:CXW) had an overwhelmingly strong day on the market Wednesday. The stock finished the session with gains of 43.13%, closing at $20.31 per share after a gain of $6.12 per share.
Why A Trump Win Is So Good For The Stock
Looking at the news, there’s no denying the fact that the reason the stock is gaining so fast is that Donald Trump will be the next United States President. So, what is it about Trump’s win that is causing CXW to climb?
The answer is simple. Throughout his campaign, Donald Trump has promised to take a strong stance against crime. This means that more and more criminals will likely find themselves behind bars. At the end of the day, Corrections Corp Of America generates the most profits when its system of prisons and jails are full. So, Trump’s win is a big win for CXW and its investors.
What I’m Expecting To See Ahead
While we may see a slight correction in Corrections Corp Of America (NYSE:CXW) in the short run, things are looking great for the stock at the moment. If Trump does what he built his campaign around, we will likely see massive gains in the stock ahead!
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Note: This article was written by Joshua Rodriguez, owner and founder of CNA Finance. If you would like to connect with Joshua, you can do so by emailing him at CNAFinanceHelp@gmail.com!