3 Stocks That Will Soar When the S&P 500 Reclaims 6,000

The market has been surprisingly resilient in the latter half of April after President Trump paused tariffs for most countries. So far, the market downturn has been largely artificial due to the trade policy instead of fundamental economic weakness. The market could bounce back significantly if Trump keeps softening up on tariffs and trade talks with China begin and reach a conclusion that leads to even lower tariffs.

The S&P 500 is still in correction territory, but it will likely climb out of it if the trade policy becomes less aggressive. Given what Trump is saying, that’s pretty likely, but not impossible. There are still investors who are confident that the market will rebound soon due to the administration moderating its trade stance.

The three stocks I’m looking at are likely to soar if such a market rebound happens. Even if the broader market does not rebound in the near term, each company should do quite well in the long run.

VEON Ltd (VEON)

VEON Ltd (NASDAQ:VEON) is a company that is largely undiscovered by U.S. investors, but the stock has delivered stellar gains of above 500% from its 2022 trough. It could still be a deep value play as it is focused on five fast-growing frontier markets and has 160 million subscribers, which is higher than Verizon (NYSE:VZ) or AT&T (NYSE:T).

The company divested its Russian business and took a big hit since it accounted for half of its revenue. It has made a multibagger recovery since then that has only been accelerating. Even if you strip out Ukraine, the company’s valuation remains deeply discounted as digital revenues are growing fast at 63% year-over-year.

There are also some near-term catalysts ahead that could send the stock rallying more. There is an upcoming Nasdaq listing of Kyivstar (VEON’s Ukrainian subsidiary) through a SPAC merger in Q3 2025. VEON will retain at least 80% ownership in Kyivstar, which is being valued at just 3.6x EV/EBITDA. Again, this is at a major discount to global peers and could lead to a re-rating, especially if peace returns to Ukraine and the country attracts Marshall Plan-style investment.

The company reported 4.7% year-over-year revenue growth in Q4 2024 (11.1% in local currency), with EBITDA up 11.3%. Digital services now account for over 12% of total revenue and are growing rapidly. The company has little exposure to U.S.-related trade risks, so that’s a good icing on the cake.

The consensus price target at $62.5 implies almost 36% upside from here.

Deckers Outdoor (DECK)

Deckers Outdoor (NYSE:DECK) has declined by over 51% from its peak in late January this year until now. This is the company behind the footwear brands UGG and HOKA. The company has been hit extraordinarily hard by President Donald Trump’s tariffs and sent the stock tumbling.

This company is one of the poster children of the 2025 tariff downturn, as a big portion of Deckers’ popular shoes are manufactured in China and Vietnam. Tariffs on Vietnam are paused (minus the 10% baseline), but the triple-digit tariffs on China are equivalent to a trade embargo at this point.

Regardless, the company’s fundamental story remains largely intact. Deckers reported solid Q3 earnings earlier this year with revenue growth due to HOKA’s athletic footwear dominance. It has a 3-year revenue growth rate of 22.5%, which is better than almost 84% of companies in the Apparel sector. The 3-year EPS growth rate (minus non-recurring items) is at 29.4% and is better than almost 75% of its peers.

Any extended tariff pause or permanent reduction in U.S.-China tariffs would be the main cause of an S&P 500 recovery, and this stock is sure to rally disproportionately on that news due to its exposure to tariffs.

RH (RH)

RH (NYSE:RH) is the company whose CEO is behind the iconic moments in earnings call history. CEO Gary Friedman blurted out “Oh sh–” during an earnings call when he noticed the stock plummeting due to tariffs. RH stock is down 59.6% from its peak in 2025 and down 74.6% from its 2021 peak as of writing.

This isn’t RH’s first rodeo since it has been operating with 25% tariffs from China since the previous Trump administration and has already successfully shifted much of its production to Vietnam at “significantly better than pre-tariff landed China pricing.”

Plus, the underlying metrics are quite strong. RH reported an 18% increase in net revenues in Q4 on a 13-week comparable basis, with total company demand quarter-to-date up 17% and RH Brand demand up 20%.

The sell-off in RH shares has mostly priced in a worst-case scenario, and I believe it could be one of the first stocks to recover during a market recovery. The consensus price target of $278.4 implies 51.72% upside.

Again, you should only buy RH stock if you are holding for a long time or if you are confident that the administration will continue being passive on tariffs. If the trade war escalates, there’s a good chance you’ll be sitting at a loss for a long time here.

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