A chill wind is blowing through the clean energy sector after Donald Trump’s presidential election victory. But the future’s never looked brighter for America’s big private prison operators after Trump promised a mass deportation of undocumented migrants.
More than two months before Trump’s inauguration as America’s 47th president, there are already some clear winners and losers on the financial and asset markets.
Here’s a brief rundown of who’s up and who’s down.
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Winners: Banks and lenders. Looking forward to higher profits if the future President Trump backs off on a Biden-era plan to tighten up capital requirements.
Up: JPMorgan Chase. The largest U.S. bank rose 11.5 percent Wednesday. New value: $696 billion.
Losers: Solar power manufacturers. Trump hates the fact that solar farms fill up entire deserts, even if it’s not true. Plus, most solar panels are made in China, so they face punitive tariffs too.
Down: Sunnova, a Houston-based solar power provider, fell 51.65 percent Wednesday. New value: $882 million.
Winners: Prisons. The big prison groups already have billions of dollars in federal contracts but profits will soar if Trump presses on with plans for a militarized mass deportation of undocumented migrants.
Up: Geo Group. Prison sector heavyweight rose 42.1 percent. New value: $3 billion.
Losers: Electric vehicle manufacturers, unless they’re made by Elon Musk. Trump has always said EVs are a “hoax,” although he’s changed his tune since the world’s richest man came on board his campaign. “I’m for electric cars—I have to be, because Elon endorsed me,” he told a campaign rally. “I have no choice”.
Up: Tesla. Musk’s EV company rose by 14.75 percent. New value: $904 billion.
Winners: Private equity and investment firms. The Biden administration has tried to block mergers that fall foul of competition rules. Trump’s Treasury Department won’t have that problem.
Up: KKR. The global investment and private equity group formerly known as Kohlberg Kravis Roberts rose 9.55 percent. New value: $135 billion.
Losers: Wind turbine suppliers. Trump hates wind turbines almost as much as he hates sharks.
Down: Orsted. World’s biggest wind farm developer that has regularly clashed with GOP officials in the U.S., fell 12.79 percent in Copenhagen trading. New value: $22 billion.
Winners: Crypto bros. Trump campaigned as a staunchly pro-crypto candidate, with his victory fueling a Bitcoin surge to a new all-time high over $76,000.
Up: Coinbase. The biggest crypto exchange saw its shares rise 31.11 percent. New value: $64 billion.
Losers: Consumers and the retailers who supply them. Trump plans to introduce tariffs of up to 60 percent on imported goods, especially from China, to be paid for by the American consumers who voted him back in.
Down: Dollar General. The popular discount store chain fell 5.1 percent. New value: $17 billion.
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