Border Wall Maker's Share Price Jumps After Trump Win

Prison shares up, gun shares down
By Rob Quinn,  Newser Staff
Posted Nov 10, 2016 4:05 AM CST
Border Wall Maker's Share Price Jumps After Trump Win
Young Palestinians use a ladder to climb over the separation barrier with Israel in Al-Ram, north of Jerusalem.   (AP Photo/Majdi Mohammed, File)

This is a good time to be in the wall-building business: Shares in Israeli firm Magal Security System, which helped build the wall around Gaza and many other barriers around the world, jumped around 6% Wednesday in the wake of Donald Trump's surprise election victory, the Independent reports. Trump has promised to build a wall along the border with Mexico and make Mexico pay for it, though Mexico says the latter part of that promise isn't going to happen.

In August, Magal chief Saar Koursh made it clear he was hoping to get the Trump contract. "The border business was down, but then came ISIS and the Syrian conflict," he told Bloomberg. "The world is changing and borders are coming back big-time." MarketWatch reports that prison stocks were another big winner Wednesday, with Corrections Corp. of America up 43%, possibly because investors believe Trump will scrap Obama's plan to phase out private federal prisons. Gun shares, however, were down, which analysts say was because Trump isn't expected to tighten gun control laws, meaning nobody is in a big hurry to stock up on firearms. (More Donald Trump stories.)

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