7 Companies Affected by Trump's Policies
7 Companies Affected by Trump's Policies
It's been less than two months since Donald Trump took office as the nation's 47th president, but some of his administration's policy changes have landed like thunderbolts on the political stage.
Whether they've involved dismantling federal programs and agencies; creating trade and tariff fireworks; or eliminating diversity, equity and inclusion programs in the federal government, some of Team Trump's policies have adamant critics, leading to public protests against the administration and companies who've supported the changes.
While protests are part and parcel of public policy shifts and represent a political problem for the White House, voter angst can quickly become a financial problem for companies caught in the crossfire. That includes potential damage to company stocks, and indirectly, shareholders.
"Trump's effect on the stock market continues to be highly polarizing. His policy shifts, especially in corporate deregulation, tax policies and the undoing of DEI initiatives, are making industry-specific winners and losers," says Fei Chen, founder and CEO of Intellectia.AI, an AI-powered financial research platform. "Energy, defense and old-line manufacturing industries have seen new investor excitement, while companies highly associated with renewable energy, ESG and Big Tech are coming under closer scrutiny. Market volatility has also increased as investors look ahead to potential trade tensions, regulatory volatility and election-year uncertainty."
From Elon Musk's Tesla Inc. (ticker: TSLA) to Mark Zuckerberg's Meta Platforms Inc. (META), here's a list of seven stocks tied to companies viewed by Trump's critics as ripe for blacklisting and boycotting by vocal protesters:
Tesla Inc. (TSLA)
Palantir Technologies Inc. (PLTR)
Amazon.com Inc. (AMZN)
Meta Platforms Inc. (META)
Nestle (OTC: NSRGY)
Walmart Inc. (WMT)
Target Corp. (TGT)
Whether they've involved dismantling federal programs and agencies; creating trade and tariff fireworks; or eliminating diversity, equity and inclusion programs in the federal government, some of Team Trump's policies have adamant critics, leading to public protests against the administration and companies who've supported the changes.
While protests are part and parcel of public policy shifts and represent a political problem for the White House, voter angst can quickly become a financial problem for companies caught in the crossfire. That includes potential damage to company stocks, and indirectly, shareholders.
"Trump's effect on the stock market continues to be highly polarizing. His policy shifts, especially in corporate deregulation, tax policies and the undoing of DEI initiatives, are making industry-specific winners and losers," says Fei Chen, founder and CEO of Intellectia.AI, an AI-powered financial research platform. "Energy, defense and old-line manufacturing industries have seen new investor excitement, while companies highly associated with renewable energy, ESG and Big Tech are coming under closer scrutiny. Market volatility has also increased as investors look ahead to potential trade tensions, regulatory volatility and election-year uncertainty."
From Elon Musk's Tesla Inc. (ticker: TSLA) to Mark Zuckerberg's Meta Platforms Inc. (META), here's a list of seven stocks tied to companies viewed by Trump's critics as ripe for blacklisting and boycotting by vocal protesters:
Tesla Inc. (TSLA)
Palantir Technologies Inc. (PLTR)
Amazon.com Inc. (AMZN)
Meta Platforms Inc. (META)
Nestle (OTC: NSRGY)
Walmart Inc. (WMT)
Target Corp. (TGT)
Re: 7 Companies Affected by Trump's Policies
Tesla Inc. (TSLA)
Year-to-date performance: -38.6%
Tesla has been targeted by protesters livid over Musk's role in the U.S. Department of Government Efficiency (DOGE), which has taken a wrecking ball (or chainsaw, or scalpel, depending whom you ask) to federal agencies' staffing and program budgeting.
While that has likely played a role in Tesla's skidding stock performance, the company is battling a sluggish technology sector and an underperforming electric vehicle market as well.
"In the first quarter of 2025, Tesla's stock was down over 40%, including a drop of more than 35% in the past month alone," says Lisa Martin, research director at the Futurum Group, a global tech research and analysis firm. "Elon Musk and his DOGE role have caused a lot of consternation globally."
Yet, Tesla's problems aren't solely political. "We've also seen shares of the other Magnificent Seven stocks – Apple Inc. (AAPL), Microsoft Corp. (MSFT), Alphabet Inc. (GOOG, GOOGL), Amazon.com Inc. (AMZN), Nvidia Corp. (NVDA) and Meta – fall steeply during Trump's second term, especially this week," Martin says.
Year-to-date performance: -38.6%
Tesla has been targeted by protesters livid over Musk's role in the U.S. Department of Government Efficiency (DOGE), which has taken a wrecking ball (or chainsaw, or scalpel, depending whom you ask) to federal agencies' staffing and program budgeting.
While that has likely played a role in Tesla's skidding stock performance, the company is battling a sluggish technology sector and an underperforming electric vehicle market as well.
"In the first quarter of 2025, Tesla's stock was down over 40%, including a drop of more than 35% in the past month alone," says Lisa Martin, research director at the Futurum Group, a global tech research and analysis firm. "Elon Musk and his DOGE role have caused a lot of consternation globally."
Yet, Tesla's problems aren't solely political. "We've also seen shares of the other Magnificent Seven stocks – Apple Inc. (AAPL), Microsoft Corp. (MSFT), Alphabet Inc. (GOOG, GOOGL), Amazon.com Inc. (AMZN), Nvidia Corp. (NVDA) and Meta – fall steeply during Trump's second term, especially this week," Martin says.
Re: 7 Companies Affected by Trump's Policies
Palantir Technologies Inc. (PLTR)
YTD performance: +10.6%
Palantir, an artificial intelligence-focused operating system software provider, has taken some heat over comments from the CEO in support of Trump and his policies. In a recent speech to the Economic Club of New York, company CEO Alex Karp told the audience, "The single best thing to help my company is meritocracy," which goes against the credo of DEI programs. Karp also described Trump as "brilliant" in a CNBC interview.
It's not exactly a shock when an American CEO backs a pro-business president. Still, Trump's critics were already vexed over Palantir's close ties to GOP funding supernova Peter Thiel, who was reportedly influential in Trump's choice of JD Vance as vice president. Ironically, PLTR shares have been primarily compromised by Trump's call to cut the U.S. defense budget by 8% annually for five years. Palantir is a big contractor with the U.S. Defense Department and counts the U.S. Army among its clients.
YTD performance: +10.6%
Palantir, an artificial intelligence-focused operating system software provider, has taken some heat over comments from the CEO in support of Trump and his policies. In a recent speech to the Economic Club of New York, company CEO Alex Karp told the audience, "The single best thing to help my company is meritocracy," which goes against the credo of DEI programs. Karp also described Trump as "brilliant" in a CNBC interview.
It's not exactly a shock when an American CEO backs a pro-business president. Still, Trump's critics were already vexed over Palantir's close ties to GOP funding supernova Peter Thiel, who was reportedly influential in Trump's choice of JD Vance as vice president. Ironically, PLTR shares have been primarily compromised by Trump's call to cut the U.S. defense budget by 8% annually for five years. Palantir is a big contractor with the U.S. Defense Department and counts the U.S. Army among its clients.
Re: 7 Companies Affected by Trump's Policies
Amazon.com Inc. (AMZN)
YTD performance: -9.3%
Amazon has pivoted on DEI initiatives in 2025 with internal memos stating the e-tailer would be winding down 'outdated programs', according to reporting from multiple outlets. A one-week boycott of Amazon from March 7 to 14 by DEI advocate People's Union USA put the digital retail giant in the spotlight, which hasn't helped its underperforming stock in 2025. The Amazon boycott extends to its digital products, Prime Video offerings, Amazon Fresh and Whole Foods, and Amazon-owned websites like Goodreads and Zappos. Amazon.com stock is down 4.6% over the past week, although the continuing technology-sector slide is viewed as the primary reason for AMZN underperformance. The wider Nasdaq Composite is down roughly 4% over the past five days.
YTD performance: -9.3%
Amazon has pivoted on DEI initiatives in 2025 with internal memos stating the e-tailer would be winding down 'outdated programs', according to reporting from multiple outlets. A one-week boycott of Amazon from March 7 to 14 by DEI advocate People's Union USA put the digital retail giant in the spotlight, which hasn't helped its underperforming stock in 2025. The Amazon boycott extends to its digital products, Prime Video offerings, Amazon Fresh and Whole Foods, and Amazon-owned websites like Goodreads and Zappos. Amazon.com stock is down 4.6% over the past week, although the continuing technology-sector slide is viewed as the primary reason for AMZN underperformance. The wider Nasdaq Composite is down roughly 4% over the past five days.
Re: 7 Companies Affected by Trump's Policies
Meta Platforms Inc. (META)
YTD performance: +5.8%
After Meta CEO Zuckerberg donated $1 million to President Trump's Jan. 20 inauguration, some consumer advocates were already hot under the collar. Now, Meta's decision to end the company's DEI program has added more fuel to the fire. The DEI program shutdown announcement was made by Meta in January 2025, with the company noting the shifting corporate and legal policy landscape. In a recent company memo, the company pointed out to staffers that the term DEI had become "charged" and that there's been a "shift in how courts will approach DEI." Meta has largely avoided the negative performance inflicted on big technology stocks, although shares are down about 15% over the past month.
YTD performance: +5.8%
After Meta CEO Zuckerberg donated $1 million to President Trump's Jan. 20 inauguration, some consumer advocates were already hot under the collar. Now, Meta's decision to end the company's DEI program has added more fuel to the fire. The DEI program shutdown announcement was made by Meta in January 2025, with the company noting the shifting corporate and legal policy landscape. In a recent company memo, the company pointed out to staffers that the term DEI had become "charged" and that there's been a "shift in how courts will approach DEI." Meta has largely avoided the negative performance inflicted on big technology stocks, although shares are down about 15% over the past month.
Re: 7 Companies Affected by Trump's Policies
Nestle (OTC: NSRGY)
YTD performance: +23.5%
Nestle caught heat from the boycott, divestment and sanctions (BDS) movement over its ownership of Osem, an Israel-based food company. The actions of anti-Israel boycotters reportedly contributed to a decrease in the company's real internal growth metric, as it slid from 2.2% to 1.3% from the second to third quarter of 2024.
Now, Nestle is in the public policy crosshairs after the Swiss consumer foods company has become the target of another boycott led by People's Union USA planned for March 21 to 28. Nestle found itself swept up in the wider DEI-driven boycott amid ongoing resistance to the company's reported use of West African child laborers to harvest cocoa and for its water-extraction practices. Nestle reported its lowest yearly organic sales growth in 25 years early in 2025, primarily due to weak consumer demand.
YTD performance: +23.5%
Nestle caught heat from the boycott, divestment and sanctions (BDS) movement over its ownership of Osem, an Israel-based food company. The actions of anti-Israel boycotters reportedly contributed to a decrease in the company's real internal growth metric, as it slid from 2.2% to 1.3% from the second to third quarter of 2024.
Now, Nestle is in the public policy crosshairs after the Swiss consumer foods company has become the target of another boycott led by People's Union USA planned for March 21 to 28. Nestle found itself swept up in the wider DEI-driven boycott amid ongoing resistance to the company's reported use of West African child laborers to harvest cocoa and for its water-extraction practices. Nestle reported its lowest yearly organic sales growth in 25 years early in 2025, primarily due to weak consumer demand.
Re: 7 Companies Affected by Trump's Policies
Walmart Inc. (WMT)
YTD performance: -5.7%
Walmart is another corporate titan targeted by activist groups, most notably over the company's decision to end its DEI program soon after the 2024 presidential elections. It's not only outside agitators who are rising up against Walmart – company shareholders are taking the same stance.
Thirty Walmart shareholders signed off on a note to company CEO Doug McMillon requesting that he rescind the decision to end DEI policies. "Seeing the company retreat from its stated values and the business opportunities associated with a diverse and inclusive workforce is very disheartening," the Jan. 14 letter stated. "Additionally, Walmart has not offered a financial or business case for this policy change, but the company identified advancing 'belonging, diversity, equity and inclusion' as one of four priority ESG issues that 'offer the greatest potential for Walmart to create shared value' in its 2024 10-K form."
Walmart management has shown no signs of reversing the DEI decision. The retailer is mired in a share-performance slump, with the stock price down 18% in the past month alone. McMillon cited a dour sentiment among consumers in statements at a recent Economic Club of Chicago appearance, citing "budget-pressured" customers who are facing tough decisions because "money runs out before the month is gone."
YTD performance: -5.7%
Walmart is another corporate titan targeted by activist groups, most notably over the company's decision to end its DEI program soon after the 2024 presidential elections. It's not only outside agitators who are rising up against Walmart – company shareholders are taking the same stance.
Thirty Walmart shareholders signed off on a note to company CEO Doug McMillon requesting that he rescind the decision to end DEI policies. "Seeing the company retreat from its stated values and the business opportunities associated with a diverse and inclusive workforce is very disheartening," the Jan. 14 letter stated. "Additionally, Walmart has not offered a financial or business case for this policy change, but the company identified advancing 'belonging, diversity, equity and inclusion' as one of four priority ESG issues that 'offer the greatest potential for Walmart to create shared value' in its 2024 10-K form."
Walmart management has shown no signs of reversing the DEI decision. The retailer is mired in a share-performance slump, with the stock price down 18% in the past month alone. McMillon cited a dour sentiment among consumers in statements at a recent Economic Club of Chicago appearance, citing "budget-pressured" customers who are facing tough decisions because "money runs out before the month is gone."
Re: 7 Companies Affected by Trump's Policies
Target Corp. (TGT)
YTD performance: -19.8%
Target just can't stay out of protesters' sights. In 2023, the retail company incurred the wrath of conservatives over Pride Month merchandise. Now, two years later, the boycott is coming from the opposite end of the political spectrum, as Target is amid a 40-day consumer boycott after the company decided to end some of its DEI programs, including some that set upward-mobility goals for women and racial minority groups within the company. The boycott, which started March 5 and runs through April 17, was kickstarted by the Rev. Jamal Bryant of Atlanta. The People's Union is planning its own boycott of Target from June 3 to 9.
TGT shares are down over 33.3% over the past 12 months, mainly due to weaker consumer demand and the rise of digital commerce, which gains more shoppers every year. In Target's favor is a robust 4.2% dividend yield and its widely known brand name, though it's been railed against by both sides of the political aisle over the past two years.
YTD performance: -19.8%
Target just can't stay out of protesters' sights. In 2023, the retail company incurred the wrath of conservatives over Pride Month merchandise. Now, two years later, the boycott is coming from the opposite end of the political spectrum, as Target is amid a 40-day consumer boycott after the company decided to end some of its DEI programs, including some that set upward-mobility goals for women and racial minority groups within the company. The boycott, which started March 5 and runs through April 17, was kickstarted by the Rev. Jamal Bryant of Atlanta. The People's Union is planning its own boycott of Target from June 3 to 9.
TGT shares are down over 33.3% over the past 12 months, mainly due to weaker consumer demand and the rise of digital commerce, which gains more shoppers every year. In Target's favor is a robust 4.2% dividend yield and its widely known brand name, though it's been railed against by both sides of the political aisle over the past two years.