The financial markets are carefully observing the forthcoming U.S. election, as its result is anticipated to have substantial consequences for the overall economy. Both contenders, Donald Trump and Kamala Harris, have delineated their agendas, which are likely to affect investment approaches.
With forecasts suggesting a competitive contest, Vice President Harris has the potential to secure the presidency. For investors with market acumen who think her victory might influence stock markets, here are three shares to contemplate if she prevails:
Evergy (NASDAQ: EVRG)
Evergy (NASDAQ: EVRG), a utility firm dedicated to increasing its carbon-neutral energy offerings, stands to gain significantly from a Harris-led government that emphasizes clean energy programs.
Harris is likely to promote tougher renewable energy measures, fostering a beneficial setting for enterprises like Evergy. The company intends to phase out coal-fired operations and transition to more sustainable energy solutions, placing it as a leader in the renewable industry.
Moreover, Evergy provides an appealing dividend yield of 4.4%, rendering it an attractive option for investors focusing on income. The stock’s current valuation and growth possibilities in a pro-renewable energy administration make it a must-consider for those anticipating a Harris victory.
As per the most recent update, EVRG was valued at $58, experiencing an increase of nearly 10% in 2024.
Rivian Automotive (NASDAQ: RIVN)
Rivian Automotive (NASDAQ: RIVN) is another equity to keep an eye on should a Harris administration take shape. Given her dedication to green technology and curbing carbon emissions, Harris may focus on EV adoption through subsidies, infrastructural growth, and various incentives. As one of the foremost pure-play EV manufacturers in the U.S., Rivian is strategically positioned to reap the benefits of these policy transitions.
Rivian is also preparing for the introduction of new vehicles and has established strategic alliances, including a significant partnership with Volkswagen, which could further enhance its growth potential.
Analyst price forecasts point to considerable growth potential for Rivian, marking it as a formidable option for investors aiming to take advantage of a green momentum in the automotive sector.
As of the latest closing figures, RIVN traded at $14, indicating a decline of over 30% in 2024.
Canopy Growth Corporation (NYSE: CGC)
A potential Harris administration could also bring about substantial transformations in the cannabis sector, making Canopy Growth Corporation (NYSE: CGC) a stock to contemplate. Canopy Growth is among the largest cannabis enterprises worldwide and could gain immensely from federal legalization in the U.S.
Harris has expressed support for decriminalizing marijuana, which could result in more favorable regulations and open up new markets.
Canopy Growth is already well-prepared with a strong presence in both recreational and medical cannabis sectors. Its strategic partnerships, including its investment in Acreage Holdings and its expanding U.S. footprint, provide a solid groundwork for seizing potential policy changes.
The company’s established brand and varied product portfolio add further allure, making it a potentially rewarding investment if cannabis reform is advanced under Harris.
As of the latest information, CGC was trading at $7, reflecting year-to-date gains of over 17%.
In conclusion, should Harris emerge victorious in the U.S. election, her policy framework could notably influence critical sectors like renewable energy, electric vehicles, and cannabis. The stocks discussed present encouraging opportunities for investors aiming to benefit from these adjustments.
Image Source: The Bold Bureau / Shutterstock
