With election wrapping up and Joe Biden the next president, I am prepared to tweak my investing strategy. With a democrat president, I am excited for the development of clean energy, electric vehicles, and renewed trade agreements. Here are 3 keys to my strategy.
Note: Racism, discrimination, and misogyny have no place in our society. Here at Strictly Travel/ Simply Money, we strive to provide great content, but must also stay true to our roots. A Biden victory brings us hope that the next 4 years will be better than the last.
- Clean Energy & Electric Vehicles
Workhorse(WKHS) has been in talks that have seemingly lasted an eternity on modernizing the United States Postal Service fleet. With a blue wave, I am curious to see how large of a push will be given towards clean energy. I’m going to be keeping a close on emerging solar stocks like Sunrun, potential EVs like Workhorse and NIO. With climate change and global warming only increasing in severity, can a Biden administration speed up the timeline for transitioning to cleaner energy?
2. Small Tech Companies
While it is no secret that members of congress seek to breakup large tech, smaller tech companies could benefit from such breakups. With hopes of increasing taxes, the only place left is big tech. With banks and the basic financial instructions struggling due to the pandemic and record low interest rates, new tax hikes should disproportionately affect big tech.
3. Cannabis
Cannabis is a very hotly debated topic. With recreational use being legalized is several states, cannabis has grown in popularity. One of the key hurdles many cannabis companies face is the fact that cannabis has not been federally legalize. Federal laws prohibit the use canabis, thus limiting access to credit and financial services. Currently all cannabis companies are listed as Canadian companies as a workaround. Having new access to a plethora of financial tools could help cannabis companies such as ACB, CGC, and others grow exponentially.
The Low Down
Overall, these are just 3 of several sectors I am extremely bullish on. I’m curious to see how the rest of the year and the first half of 2021 plays out. I’m definitely going to take profit on stay at home companies such at Peloton, Zoom, and Etsy when possible. It never hurts to lock in some gains. Do you have any investing plans? Let me know your thoughts!
