In less than six weeks, President-elect Joe Biden will be sworn in as the 46th President of the United States. Although he's inheriting a pandemic and one of the steepest recessions the U.S. economy has ever seen, the stage is set for the stock market to thrive under his tenure.

A Biden presidency is expected to feature an easier path to fiscal stimulus. Congress might also be divided, which will all but foil any attempts to raise the peak marginal corporate tax rate from an eight-decade low. The Federal Reserve seems intent on keeping its federal funds rate at or near a record-tying low for at least the next three years. These are the perfect catalysts for a Biden bull market.

However, not all stocks will perform equally in a new bull market. The following five stocks have the potential to truly skyrocket with Biden in the White House.

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One industry that should be a virtual lock to outperform during a Biden presidency is cybersecurity. As businesses continue to push online and embrace remote work, they'll increasingly rely on cybersecurity companies to protect enterprise data. I expect cloud-based security solution providers like Okta (NASDAQ:OKTA) will thrive.

Okta's specialty is providing cloud-native identity verification solutions to businesses. Built within the cloud and using artificial intelligence, Okta's solutions are designed to become more efficient at identifying threats over time. Its cloud-native identity solutions are also generally cheaper for businesses than security options housed on-premises.

Additionally, Okta generates more than 95% of its revenue from subscriptions. The beauty of the subscription model is that it's high margin and produces very predictable cash flow. Considering that Okta's subscription revenue backlog surged by 53% from the prior-year quarter ended in October, it's evident that its clients are growing and adding new subscription offerings. Look for Okta to double its full-year sales over the next two or three years. 

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Businesses focused on companion animals should do exceptionally well in a Biden bull market. After all, U.S. spending on companion pets hasn't declined on a year-over-year basis in at least a quarter of a century, according to data from the American Pet Products Association. This steady growth in companion pet spending leads me to believe that organic and natural pet foods company Freshpet (NASDAQ:FRPT) still offers plenty of upside.

Just as grocery stores fueled growth in the 2000s by pushing organic and all-natural food items, Freshpet is tapping into pet owners' desire to buy higher-quality foods and treats for their four-legged family members. Freshpet's prices may be higher than better-known pet food companies, but its perceived quality is driving rapid sales growth and plenty of repeat business. Through the first nine months of 2020, net sales are up 30%. 

Freshpet's omnichannel marketing and brand awareness are still in their infancy. As the company expands into new retail doors and finds new ways to reach pet owners, it shouldn't have any issue continuing to grow by a strong double-digit percentage.

A close-up of a flowering cannabis plant in an indoor commercial grow farm.

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Jushi Holdings

U.S. marijuana stocks should also fare exceptionally well under Joe Biden, albeit not for the reason you might think. I'm not expecting big changes in how the federal government classifies cannabis. Rather, I'm looking for new state-level legalizations and organic growth to drive results for multistate operators (MSO) like Jushi Holdings (OTC:JUSHF).

Jushi's strategy is a bit different from most MSOs. Instead of piling into as many legalized states as possible, Jushi has focused on a handful of limited license states: Pennsylvania, Virginia, and Illinois. In Virginia, for example, Jushi will be the only licensed retailer in its region. Meanwhile, license limits in Pennsylvania and Illinois ensure that it'll be able to gobble up a meaningful share of these respective markets.

Jushi's executives have skin in the game. Whereas most pot stocks have been raising capital by selling stock on a seemingly nonstop basis, Jushi's execs and insiders have put up $45 million of the roughly $250 million raised since inception. The interests of management are aligned with their shareholders, which is exciting for a company that's expected to more than quadruple sales between 2020 and 2022.

A closeup of a gold bar.

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SSR Mining

Don't sleep on mining stocks with Biden in the White House. A stimulus-friendly president, coupled with the Fed's pledge of dovish monetary policy through 2023, is the perfect recipe for a higher physical gold price. That'll be a welcome treat for gold stocks like SSR Mining (NASDAQ:SSRM).

SSR Mining recently completed a merger of equals with Alacer Gold, bringing Alacer's Copler mine under its umbrella. SSR's three assets, plus Alacer's 80% interest in Copler, are fully capable of producing north of 700,000 ounces of gold each year. This figure could head higher with SSR focused on expanding output at Copler and other mines. The newly combined company anticipates that it can generate at least $450 million in annual free cash flow over the next two years.

Unlike most gold stocks, SSR Mining also happens to have a net cash position of around $225 million. Because it's a cash flow machine with a historically conservative management team, the company intends to offer a $0.05 quarterly dividend beginning in 2021. Look for this capital return program and improved operating efficiency to push SSR's stock significantly higher.

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Lastly, don't let Amazon's (NASDAQ:AMZN) $1.6 trillion market cap fool you. It, too, could skyrocket in a Biden bull market.

There's no question that Amazon has been a (pun imminent) prime beneficiary of the pandemic. With consumers staying home, they've turned to Amazon's dominant marketplace to buy goods. According to eMarketer, Amazon is estimated to control 38.7% of all online sales in the U.S. this year. Even with the subpar margins associated with retail sales, this overwhelming retail dominance has helped Amazon build an incredibly loyal base of customers, as evidenced by the more than 150 million people worldwide who've signed up for a Prime membership. 

However, the more exciting growth driver during Biden's time in the White House will be Amazon's infrastructure cloud platform, Amazon Web Services (AWS). As more businesses move online and into the cloud, demand for Amazon's cloud infrastructure should soar. With far more impressive margins than retail, AWS has the potential to triple Amazon's operating cash flow by 2023.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.