Wall Street's optimistic tone since Donald Trump secured a return to the White House could have outsized benefits for a handful of stocks that typically gain when sentiment is bullish, according to Piper Sandler. Stocks soared to record highs immediately after Trump's victory in early November. Investors hoped that his election would lead to looser regulations, which could trigger a spree of dealmaking on Wall Street, as well as lower corporate taxes.
mountain Uber Technologies stock. Garmin is another stock that historically performs well when market sentiment is high, registering gains 62% of the time. Its stock has advanced nearly 60% in 2024. The smartwatch and digital map company surpassed analyst estimates for revenue and earnings in the third-quarter late last month. Garmin issued a higher-than-expected revenue outlook of roughly $6.12 billion for fiscal 2024. Analysts polled by FactSet were expecting $5.98 billion.
mountain Garmin stock has gained nearly 60% in 2024. Other stocks on the list included Applied Materials and Micron Technology .
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