11X Stock Market Accelerator Summit

Eric Fry reveals how an A.I.-based secret could make you up to 11 times RICHER on the same stocks you’re investing in now… without using options, leverage, or anything risky.

Wed, September 27 at 8:00PM ET

GEO Stock: Shares of Recent Reddit Play GEO Group Surge on CEO Buy-In


GEO Group (NYSE:GEO) is heading higher on Friday following news that the company’s CEO acquired shares of the stock.

Image of the Geo Group's logo on a sign outside of a corporate building

Source: JosephRouse / Shutterstock.com

According to a recent filing with the U.S. Securities and Exchange Commission (SEC), chairman and CEO George Zoley picked up an additional 166,644 shares of GEO stock. The shares were purchase for prices ranging from $6.685 to $6.80 for an average paid price of $6.75 per share.

News of the company’s CEO picking shares of GEO stock will likely excite investors betting on the company to rise higher. See, GEO has been targeted by Reddit as one of its new favorite stocks to invest in.

With Reddit investing in GEO, that means shares of the company’s stock are experiencing a short-squeeze. This has investors buying and holding shares to force out hedge funds. The CEO buying more shares will likely be seen as a positive by Reddit traders.

GEO Group is a company that offers rehabilitation services to prisons around the world. That includes offerings for bringing criminals back into society once their time has been served. It’s been in business since 1984 but didn’t change to its current name until 2003. You can learn more about the company at this link.

GEO stock was up 7.9% as of Friday morning.

Investors looking for more hot stock topics for Friday are in luck!

InvestorPlace offers a wide variety of coverage for the stock market. Today’s news includes the latest affecting AMC Entertainment (NYSE:AMC), 23andMe (NASDAQ:ME), and Orphazyme (NASDAQ:ORPH). You can learn all about that at the following links!

More Friday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed

Article printed from InvestorPlace Media, https://investorplace.com/2021/06/geo-stock-shares-of-recent-reddit-play-geo-group-surge-on-ceo-buy-in/.

©2023 InvestorPlace Media, LLC