In the 2020 presidential election, the President was introduced donald trump constantly versus Joe Biden. Investors and analysts pointed this out several sectors who could benefit from an election victory of the respective president. A sector not viewed as a likely beneficiary of a Biden presidency has posted impressive gains since November 2021.
What happened: A election victory by Joe Biden in 2020 was seen as a win for the clean energy sector and a potentially negative for oil stocks as Biden had publicly opposed pipelines.
Coincidentally, one of the best-performing large-cap stocks since Biden took office has been the oil company ExxonMobil Corp XOM.
That invasion of Ukraine by Russia is among the causes that have led to higher prices per barrel of oil and higher gas at pumps across the country. Exxon Mobil is one of several oil companies that have benefited.
Exxon Mobil stock has hit new all-time highs multiple times in 2022.
Related link: Is Biden to blame for the high gas prices: That’s what oil managers say
Invest $1,000 in Exxon Mobil: Oil company Exxon Mobil closed at $33.23 on the night of the 2020 presidential election. Shares opened for trading at $33.27 on November 4, 2020, a day after Biden was declared the winner of the 2020 presidential election.
A $1,000 investment in Exxon Mobil could have bought 30.06 shares when it opened on November 4, 2020. The 30.06 shares would be worth $3,186.66 today based on a current price of $106.01 for Exxon Mobil at the time of writing.
That figure of $3,186.66, which doesn’t count dividends, represents a return of 218.7% over nearly two years.
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