MicroStrategy’s results haven’t been all that impressive, however. The company has struggled with generating consistent revenue growth and any boost its business will get from AI remains questionable at this stage. This is one of the riskier stocks to own and it’s more of a crypto play than anything else. MicroStrategy has incurred a net loss in three of its past four quarters.

The smallest gain on this list comes from healthcare company Viking Therapeutics. And like the other stocks listed here, its gains have had little if anything to do with who won the last election. Instead, it has been the company’s promising weight loss drug that has lit a fire under Viking’s valuation.

Investors are bullish on the company’s obesity drug, VK2735, which has demonstrated encouraging results in clinical trials in helping people lose weight. In a recent phase 2 trial, participants lost around 15% of their weight after using the drug for 13 weeks. It’s progressing on to phase 3 and the company also has an oral version of the drug, which is entering phase 2 trials.

Viking doesn’t have an approved product just yet but the hope is that if VK2735 obtains approval from regulators, the company could be a big player in the anti-obesity market, which could be worth $200 billion by 2031.

The stock isn’t a suitable investment for all investors given the risk involved, but with a market cap of just over $7 billion, Viking has the potential for more gains in the future if VK2735 ends up coming to market.

To reiterate, elections, or any political event for that matter, don’t drive stocks in the long run. What matters eventually is the quality of the underlying business and its prospects. The three stocks mentioned above outperformed the stock market favorite, Nvidia, indicating how the market prices future growth prospects pretty accurately over the long run.

To quote Ben Graham, “In the short run, the market is a voting machine but in the long run, it is a weighing machine.” So investors would be better off doing due diligence on stocks than speculate how different presidential administrations could affect them over the short term.

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David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and Nvidia. The Motley Fool has a disclosure policy.

3 Growth Stocks That Have Generated 1,000% Returns Since the Last Presidential Election (and They’ve All Outperformed Nvidia) was originally published by The Motley Fool