President Biden signed an executive order aimed at boosting American manufacturing and strengthening the federal government's Buy American rules. (Photo by Drew Angerer/Getty Images) Getty ImagesNews broke on Tuesday that President Joe Biden will end private prison contracts, which is something that President Trump signed into law shortly after he took office. Back in February 2017, I wrote this article on Prison Stocks Soar Under Trump As Jeff Sessions Okays Private Jails that outlined what happened. President Biden is using racial equality as the reason why he doesn’t want to renew the contracts with private prisons. Anything can happen in the market but now that these contracts are not going to be renewed, investors are asking what’s next for prison stocks?

Source: Forbes January 26, 2021 17:48 UTC