Jim Cramer has identified a list of stocks that could experience significant gains or losses if Donald Trump secures the 2024 presidential election.
What Happened: Cramer, the host of “Mad Money,” highlighted the potential stock market impacts of a Trump re-election on his show. He noted that the recent assassination attempt on Trump has led to increased speculation about his chances of winning against President Joe Biden in the upcoming election, reported CNBC.
"After this weekend, it sure seems like the Trump stocks are back," Cramer said. "Just keep in mind that plenty of companies are great enough to transcend politics, and sometimes what counts as a Trump stock can change on a dime."
Cramer suggested that Trump’s administration would likely be more amenable to mergers and acquisitions, which could benefit major investment banks such as JPMorgan Chase & Co JPM, Goldman Sachs Group Inc GS, Morgan Stanley MS, and Bank of America Corp BAC.
He also predicted that environmental policy changes under a Trump administration could negatively impact companies like Enphase Energy Inc ENPH, Solaredge Technologies Inc SEDG, Sunrun Inc RUN, and Sunnova Energy International Inc NOVA.
"Eight years ago, in a moment gripped by political fever, I put a button on my sound board that said ‘Trump stock, Trump stock,' Cramer said. "After this weekend's events, it looks like I have to bring it back."
Why It Matters: Cramer has previously emphasized the potential benefits of a Trump presidency for the stock market. Cramer in July suggested that Trump’s return to the White House could be “good for your portfolio,” citing Trump’s focus on stock market performance as a key factor.
Moreover, Cramer has highlighted JPMorgan as a significant beneficiary of the AI boom. He predicted that the company would reap substantial benefits from advancements in AI technology, which could be further amplified under a Trump administration.
Recent events have also influenced market sentiment. An assassination attempt on Trump on Jul. 13, has led to increased optimism about his chances of winning the 2024 election. This has resulted in a rally for Trump-linked stocks.
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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