Stocks like ExxonMobil, Coinbase Global, and Costco Wholesale could benefit with Trump and Republican victories

From Nasdaq
October 12, 2024 5:48 am:

In 24 days, Americans will head to the polls with early voting already underway. DecisionDesk HQ predicts a 48% chance of former President Trump winning a second term, with Republicans possibly winning the Senate (71%) and holding the House (54%).

ExxonMobil, the largest U.S. oil producer, could benefit from Trump’s energy policies. The company recently reported strong earnings and is investing in carbon capture technology. A second Trump administration is seen as favorable to oil companies, potentially boosting ExxonMobil’s prospects.

Coinbase Global, an important player in the cryptocurrency market, could thrive under another Trump term. The former president has shown support for cryptocurrencies, which could create a stable environment for Coinbase to grow. Wall Street analysts believe there is a 53% upside potential for Coinbase.

Costco Wholesale could benefit from Trump’s proposed tariffs, with economists estimating potential inflation spikes. The company’s low prices appeal to cost-conscious consumers. While Costco’s stock trades at a premium, its strong business model may continue to reward investors under any political administration.

Investors are alerted to a “Double Down” stock recommendation for potentially lucrative opportunities, with past examples like Amazon, Apple, and Netflix delivering impressive returns. The recommendation includes three promising companies with the potential for significant growth.

The author has positions in ExxonMobil, and The Motley Fool has positions in and recommends Coinbase Global and Costco Wholesale. No promotional information is provided in the article.

Read more at Nasdaq.: 3 No-Brainer Stocks to Buy if Donald Trump and Republicans Sweep in November