OGN - Top 4 stocks that could thrive if Kamala Harris wins the 2024 US election
2024-08-03 07:45:00 ET
As the 2024 US presidential election approaches, speculation about Kamala Harris potentially stepping into the Oval Office remains strong.
Despite Donald Trump’s assertion that Harris would be an easier opponent than Joe Biden, recent developments suggest Harris’s presidency is a viable scenario.
Investors looking to capitalize on this possibility might consider positioning themselves in stocks that stand to benefit from a Harris administration.
Here are four key stocks our experts believe could see significant gains if Harris becomes president.
Rivian Automotive Inc (NASDAQ: RIVN)
Under a Harris presidency, Rivian Automotive Inc is well-positioned to benefit significantly.
Kamala Harris is expected to continue and even expand on President Biden’s commitment to promoting domestic electric vehicle (EV) production.
As a leading player in the EV market, Rivian stands to gain from increased support for US-based manufacturing of electric vehicles.
Additionally, if Harris chooses Pete Buttigieg, the current Secretary of Transportation, as her running mate, Rivian’s prospects could improve further.
Buttigieg has been a strong advocate for the transition to electric vehicles, and his influence could lead to policies that further support domestic EV production, potentially boosting Rivian’s stock as we move into 2025.
Organon & Co (NYSE: OGN)
The 2024 election is likely to have a significant impact on the legal status of abortion, with Kamala Harris’s pro-choice stance contrasting sharply with Trump’s pro-life position.
This shift in policy focus could benefit companies involved in women’s health, such as Organon & Co.
Organon, which specializes in women’s health, including contraception, reproductive medicine, psychiatry, and hormone replacement therapy, has already seen its shares rise nearly 50% this year.
Under a Harris administration, the company’s focus on women’s health could attract more attention and investment, potentially driving its stock even higher.
Tilray Brands Inc (NASDAQ: TLRY)
Cannabis stocks could see a substantial boost under a Harris presidency, given her likely support for pro-cannabis policies.
Unlike a Republican administration, which might be less favorable toward cannabis legalization, a Democratic government under Harris is expected to promote the cannabis industry.
Tilray Brands Inc, a leading cannabis producer based in New York, reported record financial results for its fourth quarter last week, with a 26% increase in net revenue year-over-year.
Despite a 35% drop from its year-to-date high earlier in April, Tilray’s stock remains an attractive option for investors anticipating a Harris administration’s support for the cannabis sector.
Zscaler Inc (NASDAQ: ZS)
Regardless of the election outcome, Zscaler Inc is poised to benefit from the ongoing focus on cybersecurity.
Recent outages from CrowdStrike and Microsoft have underscored the critical importance of robust cybersecurity solutions, reinforcing Zscaler’s market position.
Zscaler has recently partnered with Nvidia to enhance its AI-driven cybersecurity innovations. With a favorable outlook from analysts at Wedbush Securities, who view Zscaler as well-positioned to leverage AI trends, the stock remains a strong candidate for growth.
The Nasdaq-listed company is set to report its quarterly results in early September, with expectations of narrowing its per-share loss from 17 cents to 14 cents.
From advancements in electric vehicle production to the support of women’s health and the cannabis industry, these stocks could offer substantial growth opportunities in a Harris administration.
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