5 Stocks to Watch on Election Day: Trump Media, Exxon, First Solar, RTX, and Lennar

Election Day has finally arrived in the United States. The outcome between Republican Donald Trump and Democrat Kamala Harris could significantly influence various market sectors.

As investors await the final results, here are five stocks that are generating interest today.

Trump Media & Technology Group Corp.: DJT shares have been rising substantially, experiencing increased trading volume on this critical day. The stock has jumped an impressive 270% from its lows in September, fueled by speculation regarding a Trump victory. Matthew Tuttle, the CEO of Tuttle Capital Management, described this stock as "a binary bet on the election." Some analysts, however, warn that if Trump loses, the stock could face a steep drop in value.

XOM and FSLR: Attention is also on Exxon Mobil Corp. as traditional energy stocks might benefit from favorable oil and gas policies if Trump is elected. Interestingly, the U.S. has seen higher oil production under Biden compared to Trump. On the other hand, First Solar, Inc. could see gains if Harris wins, as she is expected to support renewable energy and climate change initiatives.

RTX: Analysts remain optimistic about defense stocks, particularly RTX, which was formerly known as Raytheon Technologies. Should Trump emerge victorious, companies like RTX may experience a boost due to anticipated increases in defense spending. Other significant defense contractors to watch include General Dynamics Corp. and Palantir Technologies, Inc..

LEN: Homebuilder stocks such as Lennar Corp. are of interest as well. If Harris wins, homebuilders could benefit from her proposals aimed at boosting homeownership, including up to $25,000 in down payment assistance for first-time buyers who have consistently paid their rent on time for two years. Other homebuilders to keep an eye on are D.R. Horton, Inc. and KB Home.

In summary, various stocks are poised for movement depending on the election results, making this a pivotal day for investors across different sectors.

Stocks, Elections, Investors