One of President Donald Trump’s first actions in his second term was to put controversial Tesla Inc. (ticker: TSLA) CEO Elon Musk in charge of the new Department of Government Efficiency (DOGE). DOGE has been tasked with implementing aggressive federal spending cuts across several government agencies.
The goal of DOGE is to streamline government operations and save taxpayer dollars, but large cuts to government operations will also have negative side effects for industries that rely on government contracts. Here’s a look at some stocks that could potentially be big winners and losers as DOGE shakes up federal spending.
This post originally appeared at U.S. News & World Report.