Which stocks are bound for a breakout now that the Genius Act has passed Congress?

The passage of the GENIUS Act is unlikely to directly lead to a breakout in specific stocks, as the act primarily regulates the stablecoin market and does not provide direct stock market implications. However, the act could have indirect effects on the broader financial market and certain companies involved in the stablecoin space. 1. **Companies Involved in Stablecoin Technology**: - PayPal, Amazon, and Walmart are exploring stablecoin use to reduce costs and speed up payments. These companies could see increased adoption and integration of their payment systems, potentially leading to growth and market expansion. - Traditional finance firms, such as JPMorgan, may also enter the stablecoin market, which could lead to increased competition and innovation. 2. **Blockchain and Cryptocurrency Companies**: - The GENIUS Act could lead to increased institutional investment and adoption of stablecoins, which could benefit blockchain and cryptocurrency companies that are involved in the development and implementation of stablecoins. 3. **Financial Technology (Fintech) Stocks**: - Fintech companies that are developing payment solutions and digital currencies could benefit from the increased regulatory clarity and market adoption of stablecoins. In conclusion, while the GENIUS Act is not directly expected to cause a breakout in specific stocks, it could lead to long-term growth and development in companies involved in stablecoin technology, blockchain, cryptocurrency, and fintech sectors, as it provides a clearer regulatory framework for the industry.