Spicer On Border Wall: 'We Will Create More Correction Capacity'

White House Press Secretary Sean Spicer announced Wednesday that the United States will expand “correction capacity” for border violations.

Shares of CoreCivic Inc (NYSE: CXW), which has focused on immigrant detention, spiked 4.5 percent on Spicer’s comments. The GEO Group Inc (NYSE: GEO) popped 3.1 percent, but both are now trading down on the day.

Company representatives were not immediately available for comment.

Concurrent with the news, President Donald Trump signed two executive orders advancing his mission to increase border security and deportation of undocumented immigrants. Apart from constructing the long-promised border wall, Trump also proposed punishing “sanctuary cities” that harbor immigrants by eliminating their grant funding.