“Controversial Hims stock to rise 44%. Alphabet, Nvidia, Uber, and others will grow, fueled by Trump’s Victory,” Economist Predicts
While many polls didn’t expect Trump to return to the White House as president, the betting markets got it right. The reality is that Trump’s victory could spark a continued rise in stock prices for a multitude of reasons.
Included in those are Hims, a company anticipated by several analysts to rise 44% over the next year as consumer demand for their telehealth services remains strong.
Alphabet, Nvidia, Uber, and other growth stocks could see tremendous upside too as we’re entering unprecedented times. After being just the second president in history to ever come back to office after being voted out once, much is expected from his return.
Seen by many as the candidate who will pull the U.S. out of a slump during the pandemic, many companies are once again starting to hire as they’re seeing early signs of strong consumer demand. Among some of the most promising are Hims, Alphabet, Nvidia, Uber, and more, all falling in the “growth” bucket category.
While high valuations are typically the case as they’re still growing, and the ceiling is yet to be found, many believe in these companies to keep growing, even above what’s already factored into the stock price.
Take the controversial Hims stock for instance. While run by Andrew Dudum, a character who is admired by many while while also being a person ready to take to X for controversial remarks, he’s been successful at considerably growing the company. Their D2C virtual care model has been so successful that they managed to increase revenue 77% YoY to $401.6 million in Q3. Of that, $75.6 is the net income with adjusted EBITDA of $51.1 million. With their continued, stark performance, it’s our expectation that this stock is ready for lift-off with a 44% rise.
But Hims is not the only stock we see substantial upside on. Nvidia, Uber, and Alphabet are other stocks that have shown continuous, strong performance. Nvidia’s production of microchips is considered to be a preferred provider in powering the future’s technology, particularly with the continuous interest in AI.
Uber, on the other hand, has shown considerable action taken to clean up what was once a company run with considerable questionable tactics. In 2016, they kicked out the CEO in an effort to right the ship. Their stock has seen ups and downs, but with the big expectations for a thriving economy, we now believe Uber is one of the companies that could see considerable growth in the next 12 months.
Alphabet may be near its all-time-high, but it’s a company that, despite its 181,000 employees manages to continue to innovate. Being up from just $26 in 2015, and now standing at a strong $170, the price has come a long way. The impressive feat gives Alphabet, often referred to as Google, a total market cap exceeding 2 trillion dollars. With strong performance across the board and a willingness to make the tough calls, we see upside in the stock. After all, Alphabet is still “only” the 5th largest company in the world by market cap. I’m sure its execs want to beat Amazon, Microsoft, NVIDIA, and Apple in the fight to be the biggest.
