Prison stocks plunge after report Justice Department will end use of private prisons

August 18, 2016 4:07 PM

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Prison stocks plunge after report Justice Department will end use of private prisons

Shares of two major prison stocks dropped sharply late Thursday morning following a report the U.S. Justice Department will end the use of private prisons.

Corrections Corp. of America and GEO both plunged more than 40 percent in midday trade. Trading in both stocks was intermittently halted amid their decline Thursday.

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