Donald Trump is headed back to the White House. Investors believe that’s much better news for some sectors of the U.S. economy than others—and the same goes for different parts of individual Americans’ stock portfolios.

Some plays seem obvious. Trump has traditionally been viewed as positive for banks and fossil fuel companies but a scourge for sectors like renewables. Trading on Wednesday morning suggests that view is largely unchanged.

Prior to the election, however, several analysts told Fortune the story might not be quite that simple. From tariffs to tax policy, other potential impacts of a second Trump administration also loom large. Below, we've rounded up stocks that might continue to rally or plunge ahead of Trump’s second inauguration:

Stocks to buy after a Trump win

Banks are at the crux of the Trump trade. Jay Hatfield, the CEO of Infrastructure Capital Advisors, isn’t a fan of stock picking based on the presidential race. Nonetheless, he’s willing to say financials will likely benefit from a second Trump term due to presumably lighter regulations. Shares of Goldman Sachs jumped 12% Wednesday morning, with the likes of Morgan Stanley, JPMorgan Chase, and Citigroup not far behind.

That could also hold true for private equity firms and other asset managers, which have been forced to weather a tough period for deal-making. Shares of alternative asset behemoth KKR, which stands to benefit from an uptick in both IPOs and M&A, rose 9% Wednesday to an all-time high above the $150 mark.

No sector is likely celebrating a Trump victory quite like the world of crypto, however, which he and the Republican party fully embraced in the summer. That resulted in massive financial support from the industry, which had chafed against the more restrictive policies of the Biden administration.

Shares of crypto exchange Coinbase jumped nearly 25% Wednesday morning. MicroStrategy, the largest public corporate holder of Bitcoin, saw its stock rise over 10% as the world’s biggest cryptocurrency smashed record highs.

Finally, energy is broadly seen a Trump play thanks to the former president’s promise to “drill, baby, drill.” Sam Stovall, chief investment strategist for CFRA Research, believes the supply and demand story could be a bit more complicated. Increasing oil production substantially, he said, would reduce the cost of oil.

“That would hurt the upstream companies that are drillers, [as well as] exploration and production companies,” he said, “but it would be helpful to the downstream.” The latter includes refiners like Valero Energy and natural gas transportation giant Kinder Morgan, who saw their stocks rise Wednesday over 4% and 6%, respectively.