Prisons Become Latest Meme-Stock Fad With Geo Jumping 38%
- ‘Not the end of the world,’ Redditor says of threats to Geo
- ‘Made $33,000 in my sleep,’ someone declares in a tweet
This article is for subscribers only.
The meme-stock craze has turned rental cars, video games and movie theaters into day traders’ playthings over the past year. The fad took a darker turn Wednesday as the Reddit horde brought prisons into the mix.
Retail traders drove shares of Geo Group Inc. up as much as 73%, even as the company struggles for survival in a world turning on private-prison operators. As of the close, Geo surged a record 38%.