By James Rogers
The ‘MAGA Seven’ group of stocks has enjoyed significant gains since the presidential election
A group of stocks dubbed the “MAGA Seven” by MarketWatch has enjoyed significant gains since the Nov. 5 presidential election, some lifted by links to Donald Trump and others by a bullish market. Here is how the group fared on the first full day of the second Trump administration.
The group of tech stocks known as the “Magnificent Seven” has garnered huge attention in recent years; meanwhile, the MAGA Seven has enjoyed a stellar few months. The group is made up of stocks that trade on U.S. exchanges, had a market capitalization of $15 billion or higher on Nov. 5, and saw their share price increase by the biggest percentage between Election Day and Trump’s Jan. 20 inauguration.
Shares of app-monetization company AppLovin Corp. (APP) ended Tuesday’s session down 1.2%, despite a trajectory that has seen the stock rise 113% in the past three months. Set against this backdrop, the company’s market cap has soared from $55.43 billion on Nov. 5 to $114.9 billion as of Tuesday’s close.
Related: Forget the ‘Magnificent 7.’ These ‘MAGA 7’ stocks have soared since Trump’s election.
Online brokerage Robinhood Markets Inc. (HOOD) has been touted as a “major beneficiary” of expected changes to cryptocurrency-trading rules under the new Trump administration. Set against this backdrop, Robinhood shares ended Tuesday’s session up 3.8%.
Underlining his links to the crypto world, Trump recently launched his Trump Coin (TRUMPUSD) meme coin, which was down 6.5%. A Melania coin celebrating the first lady has also been launched.
Business-software company and cryptocurrency play MicroStrategy Inc. (MSTR) is also expected to benefit from a crypto-friendly White House. The Tysons Corner, Va.-based company has seen its stock climb 77.6% in the past three months. MicroStrategy’s shares ended Tuesday’s session down 1.9%.
Related: ‘Magnificent Seven’ stocks hit another milestone. Here’s why they could continue to dominate in 2025.
Electric-vehicle giant Tesla Inc. (TSLA), the only stock on the MAGA Seven list that is also part of the Magnificent Seven, has become a high-profile “Trump trade” thanks to CEO Elon Musk’s ties to the new president. The Tesla and SpaceX chief, who donated an estimated $200 million to Trump’s campaign, was in a prominent spot at the inauguration ceremony, along with Alphabet Inc. (GOOGL) (GOOG) CEO Sundar Pichai, Amazon.com Inc. (AMZN) founder Jeff Bezos and Meta Platforms Inc. (META) CEO Mark Zuckerberg.
Despite gaining 93.8% in the past three months, however, Tesla shares ended Tuesday’s session down 0.6%.
Shares of network-technology company Ubiquiti Inc. (UI), buoyed by the company’s strong performance, have risen 63% in the past three months, and the stock ended Tuesday’s session up 2.2%. Ubiquiti’s market cap has climbed from $15.8 billion on Nov. 5 to $24.6 billion.
Read more: Tech CEOs like Musk, Bezos and Zuckerberg score better seats than some incoming cabinet members at Trump’s inauguration
Like Robinhood, crypto-trading portal Coinbase Global Inc. (COIN) is also expected to receive a boost from the Trump administration’s crypto-friendly policies. However, the stock ended Tuesday’s session down 0.4%, despite enjoying a 37.7% gain in the past three months.
Home-goods retailer Williams-Sonoma Inc. (WSM) cannot be described as a Trump trade, but its stock has enjoyed strong momentum in recent months, boosted by market-share gains and better-than-expected profit and revenue. Williams-Sonoma shares ended Tuesday’s session up 3.5%.
During the election campaign, Trump was particularly vocal about tariffs on China, although no immediate tariffs have been announced.
Williams-Sonoma significantly cut its China exposure during Trump’s first term, CEO Laura Alber said in an interview with Yahoo Finance at the World Economic Forum in Davos, Switzerland, on Tuesday. “In the first Trump administration, we saw the first wave of tariffs and we reduced our China exposure by 50%,” she said. “We are approximately 25% now and we aren’t waiting for the next wave of tariffs. We have been working to continue to move our product elsewhere, so whether it’s elsewhere in Asia or even, you know, in the United States.”
Related: The U.S. dollar slumps as Trump 2.0 kicks off with no immediate tariffs
-James Rogers
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01-21-25 1806ET
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