With only four months before the presidential election, President Joe Biden has dropped out, endorsing Vice President Kamala Harris for president. However, with the odds favoring a second term for Donald Trump, it’s time to buy Trump victory stocks.
We already know Trump has vowed to “,” which would be beneficial for domestic oil companies. We know he wants to address the issue of , with the potential for mass deportation. He also has a strong position on and a strong position on further trade tariffs with China.
Cryptocurrencies could also do well, especially with Trump’s pro-crypto running mate, Senator J.D. Vance. Plus, , referring to himself as pro-crypto.
Even artificial intelligence energy stocks could get a boost, with Trump saying, “A.I. needs tremendous — literally, twice the electricity that’s available now in our country” .
That being said, here are a few top stocks that you may want to buy and hold today.
Marathon Digital (MARA)
With Trump and J.D. Vance’s pro-crypto stance, Bitcoin (BTC-USD) could rally to higher highs. There’s also speculation their support could clear some regulatory hurdles, and create a far more favorable environment for digital assets. Should that happen, mining stocks, like Marathon Digital (NASDAQ:MARA) could easily rally to higher highs, too.
Fueling further upside for Marathon, the company just expanded into Kaspa (KAS-USD), a proof-of-work cryptocurrency, which helps create revenue diversified from Bitcoin, says . As of June 25, MARA mined 93 million KAS, which has a value of about $15 million.
Marathon earnings haven’t been too shabby either. In its first quarter, sales soared 223% to $165.2 million. Net income jumped about 184% to $337.2 million year over year. Adjusted EBITDA also jumped 266% to $528.8 million. Even better, it increased its BTC holdings by 28% year over year to 2,811.
NextEra Energy (NEE)
Just a moment ago, I mentioned that Donald Trump said, “A.I. needs tremendous — literally, twice the electricity that’s available now in our country.”
A new report from says nationwide electricity demand from data centers is expected to grow 4.7% over the next five years, “nearly double the previous forecast for 2.6% growth.”
Plus, “AI’s computational power is projected to double every 100 days, increasing global energy demand attributed to AI by 26% to 36% annually in the coming years,” .
All of which could help fuel further upside in utility stocks, like NextEra Energy (NYSE:NEE), a clean energy leader and one of the largest wholesale generators of electric power in the U.S.
Plus, tech companies wanting to build out massive data centers have been asking NextEra to find them locations with enough electricity to “power entire cities,” .
With AI showing no signs of slowing, and electricity demand set to soar, buy NEE.
Vulcan Materials (VMC)
Infrastructure stocks, like Vulcan Materials (NYSE:VMC), which produces and supplies construction aggregates should also do well under a Trump presidency. That’s part of the reason why VMC rallied from about $240 to nearly $264 over the last few weeks.
Helping, VMC just declared a , payable on Sept. 4 to shareholders of record as of Aug. 15.
Even better, its earnings have been strong. Its first-quarter earnings per share of 80 cents beat by three cents. Revenue of $1.55 billion, while down 6.1% year over year, did beat by $40 million. VMC is also on track to deliver adjusted EBITDA of $2.15 billion to $2.3 billion, which would represent the company’s fourth consecutive year of double-digit growth.
Even better, funds have been raising their holdings in VMC.
Ken Griffin’s Citadel Advisors, for example, by adding 454,560 shares of VMC at the end of March. Dmitry Balyasny’s Balyasny Asset Management also increased its stake by 880% by adding 256,200 shares.
On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
