Investing

The 3 Best Trump Stocks Since the Election. Can They Go Higher Still?

Rich Duprey

Published: January 20, 2025 2:48 pm

The election of Donald Trump as the 47th president of the United States created reverberations throughout the stock market as investors bet on which companies would win and lose during his administration.

Although the market as a whole is up only 4% since Election Day, Trump’s promises to crack down on illegal immigration, reduce regulation, and impose tariffs to level the trade field created fertile ground for investors to pick sides. 

Now that Trump has been installed into office, three trades stand out as some of the best performers since Nov. 5, rising 56% or more over the last 76 days. Let’s take a look at each and see whether they can continue running higher.

24/7 Wall St. Insights:

• It’s official: Donald Trump is now the 47th president, and some stocks have soared on the prospects of winning during his administration.
• Residing in sectors that matched certain broad themes outlining Trump’s campaign, some of the best performing stocks have gained 56% or more over the past two months.
• If you’re looking for some stocks with huge potential, make sure to grab a free copy of our brand-new “The Next NVIDIA” report. It features a software stock we’re confident has 10X potential.

Tesla (TSLA)

On the surface, leading electric car manufacturer Tesla (NASDAQ:TSLA) shouldn’t be a winning play. Despite the close friendship between Trump and CEO Elon Musk, the president has promised to eliminate subsidies to the industry, including tax credits for buying EVs. As almost all Tesla vehicles except maybe the Cybertruck qualify for the credit, this should theoretically hurt the EV maker.

Yet Musk has said he is in favor of eliminating industry subsidies, though it may be a self-serving position. Tesla was able to gain traction early on due to the credits making its EVs more affordable, but now that it has established itself as the market leader, it would make it more difficult for rival EV stocks to compete. 

Demand for EVs has fallen sharply. Tesla production fell 4% in 2024 and deliveries fell 1% to 1.79 million vehicles. Still, Tesla is the only electric vehicle company that is profitable. With many feeling the Trump-Musk relationship will continue growing, especially with Musk heading up the Department of Government Efficiency, it explains why TSLA stock is up 70% since the election and could continue padding its lead.

GEO Group (GEO)

Private prison operator GEO Group (NYSE:GEO) stands to benefit bigly from Trump’s crackdown on illegal immigrants. His border czar Tom Homan promises large-scale roundups of illegals beginning on Day 1, and because he will be targeting criminal aliens first, GEO Group’s facilities will undoubtedly be tapped for service.

In 2023, GEO generated over $1 billion from contracts with U.S. Immigration & Customs Enforcement (ICE), or some 40% of the total. In December, it announced $70 million in new capital expenditures to service ICE immigration jails. It should be noted industry peer CoreCivic (NYSE:CXW) also generates substantial revenue from ICE, about 30% of total revenue, or $552 million in 2023.

Both stocks are up sharply since Election Day, with CXW stock rising 69% while GEO stock soared 132%. As arrests and deportations grow, expect the private prison operators to see their revenues greatly expand as existing contracts are extended and new contracts signed. Yet as the largest service provider to ICE, GEO Group stands to benefit most from Trump’s presidency.

Bitcoin (BTC)

Okay, it’s not a stock, but Bitcoin (CRYPTO:BTC) is a big winner as well following Trump’s election. The value of the cryptocurrency is up 56% over the past two months, albeit with a few sharp dips along the way.

Trump has promised to block the Security & Exchange Commission’s anti-crypto policies, cut regulation, and to make the U.S. the “crypto capital” of the world. Yet it was just reported that although President Trump wants to create the U.S.’s first crypto reserve, he is apparently prioritizing those founded in the U.S., such as Solana (CRYPTO:SOL), USD Coin (CRYPTO:USDC), and Ripple (CRYPTO:XRP). 

That isn’t deterring Bitcoin proponents as they apparently believe just having a crypto-friendly president will be a tide that lifts all boats. It’s likely Bitcoin will rise and fall regardless of what Trump does, unless it’s an outright crackdown. And that’s not about to happen as Trump just launched three tokens of his own, Official Trump (CRYPTO:TRUMP), Official Melania Meme (CRYPTO:MELANIA), and Official Barron (CRYPTO:BARRON).

Immediately after its launch, the Trump memecoin rocketed to become one of the 10 most valuable cryptos traded, but is currently sitting at 19th after paring some of the early gains. Crypto, in general, will likely benefit from a Trump presidency, though some see his launching his own memcoins — with possibly more to come — as not helping to improve the image of the market.