As the presidential race heats up, investors are eyeing opportunities that could arise if Vice President Kamala Harris wins. Here are three stocks poised for growth under a Harris administration:
- Brookfield Renewable (NYSE: BEP, NYSE: BEPC) Harris’ strong support for renewable energy could boost Brookfield Renewable. The company operates hydroelectric, wind, solar, and energy storage facilities globally. With a development pipeline of 157,000 megawatts, Brookfield is well-positioned for long-term growth. Its 6% distribution yield and projected annual growth between 5% and 9% make it an attractive investment.
- Rivian Automotive (NASDAQ: RIVN) Harris’ commitment to federal investments in the EV sector bodes well for Rivian. Already a leading American EV maker with significant market share, Rivian’s new midsize R2, R3, and R3X vehicles, along with its partnership with Amazon, position it for continued success. The company’s revenue nearly doubled in early 2024, and it aims for profitability by year-end.
- Trulieve Cannabis (OTC: TCNNF) Harris’ support for marijuana legalization could benefit Trulieve, especially with Florida voting on adult-use cannabis in November. Trulieve, dominant in Florida’s medical cannabis market, could easily extend its leadership to recreational cannabis if legalized. Harris’ candidacy could drive Democratic voter turnout, increasing the chances of legalization.
These stocks represent significant growth potential aligned with Harris’ policy priorities. Investors should keep an eye on these opportunities as the election approaches.
