Since President Donald Trump won the election on November 5, 2024, financial markets have experienced significant volatility. Investors are now observing which companies have benefitted from the new administration and which ones have struggled in this dynamic environment.

Top Gaining Companies

Data from Benzinga Pro indicates that six companies within the SPDR S&P 500 ETF Trust SPY have achieved returns exceeding 30% since Trump’s election.

Palantir Technologies Inc. PLTR stands out with a remarkable increase of 59.91%, rising from $51.13 to $81.76. The company, based in Denver, has posted an annualized return of over 184%, largely driven by momentum related to AI advancements and CEO Alex Karp’s backing of Elon Musk’s initiatives aimed at government efficiency, which he argues is essential to reduce fraud, waste, and abuse.

Benzinga Edge rates Palantir very favorably, with a score of 99 out of 100. However, it does face concerns regarding its valuation, suggesting that the stock may be overpriced.

Other notable gainers include:

• Tapestry Inc TPR: up 49.66% (annualized return of 148.56%).
• Warner Bros Discovery Inc WBD: up 35.32% (annualized return of 105.68%).
• VeriSign, Inc VRSN: up 33.19% (annualized return of 99.30%).
• Super Micro Computer Inc SMCI: up 33.32% (annualized return of 99.69%).
• Gilead Sciences Inc GILD: up 30.48% (annualized return of 91.19%).

Struggling Companies

Contrasting sharply are several S&P 500 stocks that have significantly decreased in value since Trump’s election. Some of these declines have been attributed to the administration’s policies.

First Solar Inc. FSLR, a solar panel manufacturer, has experienced a 36.41% drop in its stock price, primarily due to concerns over Trump’s support for fossil fuels. The company’s shares have fallen since November 5, 2024.

Benzinga Edge notes that First Solar’s current valuation appears depressed, but the outlook for momentum and growth remains unfavorable.

The following companies also rank among the S&P 500’s worst performers since Trump’s victory:

• Iron Mountain Inc IRM: down 34.47%.
• ON Semiconductor Corp ON: down 35.71%.
• FMC Corp FMC: down 35.32%.
• Celanese Corp CE: down 39.6%.

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Disclaimer: The author owns shares of Warner Bros. Discovery at the time of publication.

Image created using artificial intelligence via Midjourney.