Stocks worth considering for Joe Biden victory
A Joe Biden administration can be good news for healthcare and renewable energy-focused companies as the U.S. tries to catch up with the rest of the world. Here are some of the stocks that may jump in a Joe Biden Presidency.
Renewable energy is the future whether Joe Biden wins or not. However, a democratic administration will be more in tune with where the world is going and deploy resources to help America get there faster than the likes of China and Europe. A clean-energy agenda is music to the ears of renewable energy companies like Brookfield Renewable Partners (NYSE: BEP) and First Solar (NASDAQ: FSLR). Brookfield Renewable Partners (NYSE: BEP) is one of the largest global renewable companies in the world while First Solar (NASDAQ: FSLR) is an American manufacturer of solar panels, and a provider of utility-scale PV power plants dominant player in the largest solar manufacturer in the alternative energy sector.
UnitedHealth Group (NYSE: UNH) is the leading health insurance company in America and a win for Joe Biden is most likely a win for other health insurers. United Health has a keen focus on Medicare supplemental plans and if Biden is successful in providing a Medicare-type solution, there will be enormous demand for supplemental plans.
Realty Income Corporation (NYSE: O) is a real estate investment trust (REIT). The investment trust was adversely affected by Trump’s tax reductions that made REIT’s less attractive to investors. Biden plans to raise corporate taxes to 28% from 21% and tax foreign income more aggressively. While this might not be the best news for some stocks, REITs special tax status will be appreciated again.
Tesla (NASDAQ: TSLA) is an American electric vehicle and clean energy company. Tesla is sure to benefit massively from Joe Biden’s interest in clean energy and making the US a global power in electric car supply. Currently, Tesla is doing great in a Republican administration with less focus on green energy. One can only wonder how much more Tesla would soar in a clean energy-oriented administration.
A major focus of Joe Biden is his “Build Back Better” plan, which highlights his proposal to mobilise American manufacturing and build modern infrastructure. For Martin Marietta (NYSE: MLM), a major building and materials company specializing in large construction projects, this could be positive. Martin Marietta also makes crushed sand and gravel products, ready-mixed concrete and asphalt, and paving products and services.
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