RTTNews | Jun 9, 2021 01:24PM EDT

13:23 Wednesday, June 9, 2021 (RTTNews.com) - CoreCivic (CXW) shares are up 16% on Wednesday after the company announced that they will be partnering with Mahoning County to utilize the Northeast Ohio Correctional Center to facilitate more inmates.

The Tennessee-based company will use 990 of 2016 beds in the Northeast Ohio campus to address the growing population requirements. The three-year contract will be in effect from May 31, 2021. At present, the correctional center is in contract with the state of Ohio for the care of 800 inmates.

Currently, the company is trading at $10.97, up 16.23% or $1.52 from $9.43 at the bell on Tuesday. The shares opened at $9.98 and on the 52-week period, the shares have ranged between $5.76 and $14.03.

Read the original article on RTTNews ( https://www.rttnews.com/3201195/stock-alert-corecivic-up-16-on-new-correctional-facility-news.aspx)

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