4 Must-Own Turnaround Stocks With Biden as President
America has voted, and Wall Street is digging the results. Following the Nov. 3 election, former Vice President and now President-Elect Joe Biden is set to take office in 10 weeks.
Although Biden's tax proposal would raise the peak marginal corporate tax rate to 28% from 21%, which would lower corporate earnings by approximately 10%, Wall Street appears pleased with the likelihood of Republicans holding onto a majority of seats in the Senate. A Mitch McConnell (R-Ky.)-led Senate would assuredly block most big-picture policy proposals from Biden, leading to the status quo continuing.
A Biden presidency also opens the door for a number of value-oriented turnaround stocks to thrive. Turnaround stocks, by definition, have challenges that they'll need to overcome, which isn't going to happen overnight. Nevertheless, a Biden presidency puts the following four stocks on track to rebound in a big way, and in my view makes them must-owns.
Source Fool.com
