The price of private prison stocks rises after Trump names immigration hardliner Tom Homan to a key position.

• On Monday, the stocks of private prisons Geo Group and CoreCivic increased following the appointment of Tom Homan as President-elect Donald Trump's "border czar."
• In July, Homan informed a conservative conference that he would establish the largest deportation force in the country's history upon Trump's return to office.

On Monday, private prison stocks increased following the appointment of immigration hawk Tom Homan as President-elect Donald Trump's "border czar."

Nearly 8% and more than 4% jumped in premarket trading, respectively. Homan was the Immigration and Customs Enforcement head during Trump's first term.

Trump announced on Truth Social that Homan will oversee the deportation of illegal aliens and be in charge of securing the southern, northern, maritime, and aviation borders.

In July, Homan informed a conservative conference that he planned to execute the largest deportation operation in the country's history upon Trump's return to office.

The second Trump administration will allow for contracting with the U.S. Marshalls Services and the Federal Bureau of Prisons, according to Isaac Boltansky, an analyst at BTIG.

The analyst informed clients that they would adopt a more aggressive stance on border enforcement, which would affect the ICE business lines of these firms.