GEO - Why GEO Group Is Soaring 11% This Morning
Shares of GEO Group (NYSE: GEO) were running 11% higher in morning trading Wednesday as the Reddit stock trading frenzy latched onto yet another stock that's heavily sold short.
There was no real news to speak of regarding the private prison operator's business, but with over 35% of its outstanding shares sold short, GEO Group has been adopted as the latest meme stock to get retail investor support.
While rallying around businesses being "unfairly" targeted by hedge funds and other short-sellers is fun, it's no way to invest and sometimes a business deserves the negative opinion held.
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Why GEO Group Is Soaring 11% This Morning