joe-biden-stocks-to-buy-1599846434512.jpg
Source: Getty

Stocks to Buy If Joe Biden Wins the Election

By

Updated

Former Vice President Joe Biden is a humble man. But the Scranton-born presidential hopeful has been making some moves in the past few months that have improved his chances of becoming the next U.S. president. As of July 2020, forecasts pointed to Biden winning the election in November. If he does win, many fiscally-conscious Americans will wonder what stocks, investments, or industries might benefit from a Biden presidency.

What does a Biden administration mean in terms of finance?

If Joe Biden wins, financial and energy stocks should expect increased regulatory scrutiny and potentially higher taxes across the board. That said, opportunities may arise in the areas of infrastructure spending, green energy, and healthcare. These areas are usually Democratic priorities.

joe-biden-2020-1599846578261.jpg
Source: Getty

What are Joe Biden’s personal interests?

Joe Biden's portfolio isn't public knowledge, but some assumptions can be made based on his personal interests and the programs he supported under the Obama administration. Inferences can also be made based on issues he has spoke about during his campaign.

joe-biden-election-1599846678723.jpg
Source: Getty

Brookfield Renewable

Biden wants to transition the U.S. away from its reliance on fossil fuels. He plans to create incentives for companies that help reduce the country’s carbon footprint by 50 percent over the next 15 years. A company like Brookfield Renewable would be a prime candidate for a potential investment if Biden wins the election in November. The company owns and operates hydroelectric, wind, solar, and energy-storage facilities throughout the world. Brookfield Renewable is exactly what Biden is looking for in terms of his green initiatives. 

Biden's interest in Tesla

Tesla is a $276.7 billion company that's committed to cleaner automobiles. If Biden becomes the next U.S. president, his own interest in renewable energy sources and cleaner-burning fuels makes Tesla a top contender among automobile companies. Biden said that he wants to make the U.S. a world leader in electric vehicle production and acceptance. Tesla isn't the only clean automobile company, but it has the most brand awareness. 

joe-biden-tesla-1599846758433.jpg
Source: istock

Teladoc Health

Healthcare initiatives were always part of the Obama administration’s agenda. Considering that Biden helped roll out some of the initiatives, he still holds them in high regard. Biden said that he wants the federal government to support the use of telehealth throughout rural America, especially in terms of mental health and specialty care. He has said that telehealth is an underused but essential component as the U.S. fights the COVID-19 pandemic. 

Teladoc Health is the global leader in telehealth. The company offers virtual healthcare services across 175 countries. The services include behavioral health care and 450 medical subspecialties. Telehealth has been crucial in combating the COVID-19 pandemic. Telehealth's importance in the financial space will likely make it a strong force in the years to come. 

biden-and-bernie-sanders-1599846954824.jpg
Source: Getty

Green Thumb Industries

Joe Biden doesn't necessarily support the full federal legalization of recreational cannabis. Biden and Senator Bernie Sanders both support the federal legalization of cannabis for medical use. Biden and other Democrats have recommended that federal laws be changed so that states have the right to make their own decisions regarding recreational cannabis. Green Thumb runs 13 manufacturing facilities in the U.S. The company owns and operates a chain of 48 retail cannabis stores in 12 states. Green Thumb would likely be a sure bet if Biden wins the election.

What variables might impact the election?

It's a bit early to predict a winner just yet. After all, Hilary Clinton won the popular vote, but President Trump emerged victorious based on the electoral college. The COVID-19 pandemic offers an entirely new set of variables. There are concerns about low voter turnout amid the COVID-19 pandemic. 

More From Market Realist