Must-buy stocks if Kamala Harris wins the U.S. election

The financial markets are closely monitoring the upcoming U.S. election, as the outcome will likely have significant implications for the broader economy. Both candidates, Donald Trump and Kamala Harris, have outlined their policies, which are expected to influence investment strategies.

With projections indicating a tight race, Vice President Harris can clinch the White House. For market-savvy investors who believe her win could impact the equities markets, here are three stocks to consider if she emerges victorious:

Evergy (NASDAQ: EVRG)

Evergy (NASDAQ: EVRG), a utility company committed to expanding its carbon-free energy sources, benefits significantly from a Harris-led administration prioritizing clean energy initiatives. 

Harris is expected to advocate for stronger renewable energy policies, creating a favorable environment for companies like Evergy. The company plans to retire coal operations and shift toward more sustainable energy sources, making it a front-runner in the renewable sector.

In addition to its strategic plans, Evergy offers an attractive dividend yield of 4.4%, making it a compelling choice for income-focused investors. The stock’s current valuation and growth potential in a pro-renewable energy administration position it as a must-buy for those anticipating a Harris win.

As of the latest update, EVRG was trading at $58, gaining nearly 10% in 2024.

Rivian Automotive (NASDAQ: RIVN)

Rivian Automotive (NASDAQ: RIVN) is another stock to watch under a Harris administration. With her commitment to green technology and reducing carbon emissions, Harris may prioritize EV adoption through subsidies, infrastructure development, and other incentives. As one of the leading pure-play EV manufacturers in the U.S., Rivian is well-positioned to benefit from these policy shifts.

Rivian is also gearing up for new vehicle launches and has formed strategic partnerships, including a notable collaboration with Volkswagen, which could further bolster its growth prospects. 

Analyst price targets indicate substantial growth potential for Rivian, making it a strong contender for investors looking to capitalize on a green wave in the automotive sector.

As of the latest close, RIVN was trading at $14, reflecting a decline of over 30% in 2024.

Canopy Growth Corporation (NYSE: CGC)

A potential Harris administration could also significantly change the cannabis industry, making Canopy Growth Corporation (NYSE: CGC) a stock worth considering. Canopy Growth is one of the largest cannabis companies globally. It could benefit immensely from federal legalization in the U.S.

Harris has indicated support for decriminalizing marijuana, which could lead to more favorable regulations and open up new markets.

Canopy Growth is already well-positioned with a strong presence in both recreational and medical cannabis markets. Its strategic partnerships, such as its stake in Acreage Holdings and expanding its footprint in the U.S., provide a solid foundation for capitalizing on potential policy changes. 

The company’s established brand and diverse product portfolio add further appeal, making it a potentially lucrative investment if cannabis reform is pursued under Harris.

As of the latest update, CGC was trading at $7, reflecting year-to-date gains of over 17%.

Overall, if Harris wins the U.S. election, her policy agenda could significantly impact key sectors like renewable energy, electric vehicles, and cannabis. The stocks mentioned offer promising opportunities for investors looking to benefit from these changes.

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.