Published on 31 Oct 2022 on Insider Monkey via Yahoo Finance

11 Best Prison and Law Enforcement Stocks To Buy Now

In this article, we discuss the 11 best prison and law enforcement stocks to buy now. If you want to see more stocks in this selection, go directly to the 5 Best Prison and Law Enforcement Stocks To Buy Now.

According to the Council of Criminal Justice (CCJ), the rate of violent crimes as of August 2022 is still higher than the pre-pandemic levels. The homicide rates have increased by 40%, while car theft and robberies are up 15% and 19%, respectively, this year as opposed to 2021. This has caused the US Congress to roll out a $37 billion budget to improve policing and ensure crime prevention. Around $13 billion will be invested in the next five years to recruit 100,000 police officers across the US. The bill will also focus on community policing which is considered an integral part of developing better relations with the local population by the Biden Administration. The Safer America Plan also intends to invest $1 billion to train police officers with a focus on accountability and transparency.

State governments have invested $350 billion, allocated by the US Federal Government under the American Rescue Plan Act (ARPA) in March 2021, to stimulate the economy following the impact of the COVID-19 pandemic. Data shows that over $25 billion have been diverted toward police and prisons. The significant flow of funds is being considered a positive development for some of the best prison stocks like Palantir Technologies Inc. (NYSE:PLTR), CACI International Inc (NYSE:CACI), and Axon Enterprise, Inc. (NASDAQ:AXON).