The GEO Group Inc (NYSE: GEO) is up 38% and is trading at present for $8.80. With a market capitalization of $1.08 billion, this stock is making consistent efforts to stay over $11 or remain in that vicinity. The upward movement of this stock becomes interesting, especially since there is no apparent driving force as of now, except for the appointment of a new executive officer.
The former CEO of the company has moved to the position of GEO’s Board of Directors. However, these changes should have hardly significantly impacted the stock, let alone doubling it in the past two weeks.
The shares of this group have remained under the radar for several months now. With looming business pressure, the stock had become cheap. The analysts expect that GEO Group would report $1.23 earnings per share in 2021, while the speculation for the next year is $1.08 per share. The market, however, is anticipating a declining financial performance of the company. What lies ahead is still under speculation!