Alcohol Stocks To Get A Boost From 2024 Election? Busy Liquor Stores Say Voters ‘Drowning Their Sorrows Or Celebrating’

Donald Trump‘s 2024 presidential election win put several sectors in the spotlight, including alcohol stocks.

What Happened: Some people watched the outcome of election night on television from their home. Others likely scrolled along with social media on their phone. Some attended watch parties with friends and families, similar to a Super Bowl party or one for Nvidia’s quarterly earnings.

Regardless of who voters wanted to win — Trump or Kamala Harris — they may have bought more alcohol for Election Day this year, at least in New York, with liquor stores reporting a busy day.

One liquor store told the New York Post they were three to four times busier than a regular weekday on Election Day with heavy sales coming in the early afternoon and around 5 p.m. ET. An employee from Brooklyn’s Juice Box liquor store told the Post there was also a noticeable trend from many customers.

“People were buying sparkling wine and a bottle of liquor for both (outcomes),” the employee said.

Employees from other New York stores noticed the same trend. Customers were either buying one type of alcohol for a happy outcome or one for a negative outcome.

“I have no idea if people will be drowning their sorrows or celebrating,” the Juice Box employee added.

Did You Know?

• Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool

Why It’s Important: While it is only one day of the year, Election Day 2024 could provide a short bump for alcohol stocks like Diageo Plc (NYSE:DE) and Constellation Brands (NYSE:STZ). Beer stocks like Anheuser-Busch InBev (NYSE:BUD), Boston Beer Company (NYSE:SAM) and Molson Coors Beverage Company (NYSE:TAP) may have also benefitted from Election Day.

Alcohol may be a coping or celebratory item for Election Day in the U.S., but in India the country has dry days of no alcohol around their elections with residents unable to drink for 48 hours before the vote, on election day or as the vote is being totaled.

Read Next:

• Will Trump Be Sentenced In Hush Money Trial Or Will His ‘Criminal Problems Go Away’?

Image: Shutterstock