Palmetto Political Stock Index: 2/11/2025

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Was it a thermonuclear takedown of a prominent, prospective rival in the 2026 South Carolina governor’s race? Or was it an ill-conceived kamikaze mission? It’s all in the eye of the beholder.

Lowcountry congresswoman Nancy Mace’s impassioned, hour-long speech from the floor of the U.S. House of Representatives on Monday night remains the dominant political event of the week – perhaps the year – and is being talked about in every corner of South Carolina.

And beyond…

Mace publicly called out multiple individuals (including her ex-fiancée) whom she claims perpetrated horrific abuses against her and other women. She also blasted a justice system which, according to her, lacked “the guts to call them out or hold them accountable.”

Specifically, she slammed S.C. attorney general Alan Wilson – who is likely to be her top rival in the 2026 South Carolina governor’s race – for allegedly stalling the investigation into her claims.

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How is Mace’s speech playing? That’s the question everyone is asking… and is exactly the sort of question our index is here to assess.

Every Monday, we publish the ‘FITSNews Political Stock Index’ – which focuses on the latest national political developments. Every Tuesday, we publish the ‘Palmetto Political Stock Index,’ which focuses on politicos from our home state of South Carolina – host of the quadrennial “First in the Nation” (for Democrats) and “First in the South” (for Republicans) presidential primaries.

Got a hot “stock tip” for these indices? Email our founding editor Will Folks (here) and/or political columnist Mark Powell (here).

Where should you invest your political capital this week? To the index…

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NANCY MACE

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STOCK: RISING

Courageous stand? Or a grandstanding stunt? It depends who you ask… and, in some cases, where they live. Because nearly twenty-four hours after Nancy Mace’s dramatic speech, a distinct line of demarcation is evident.

Before we go any further, our index is strictly assessing the political impact of Mace’s self-described “scorched earth” speech. We are not vouching for the veracity of her shocking claims – nor are we dismissing them. Our sole purpose is to gauge the political fallout.

Generally, initial feedback from the speech is falling into two camps… with strong support coming from people outside the Palmetto State, and plenty of initial skepticism from many within South Carolina.

Consider this tweet from GOP-aligned TV commentator Meghan McCain: “What Nancy Mace is doing tonight is incredibly brave. I literally can’t imagine detailing my own date rape and sexual assault on the floor of Congress. If a powerful Congresswoman wasn’t believed by law enforcement, imagine what life is like for the rest of the country.”

Meanwhile, political insiders in South Carolina were far less inclined to bestow such praise – with some of the congresswoman’s detractors speculating as to whether Mace was “mentally ill” or merely an “attention whore.”

Yet while reactions from Palmetto politicos generally fell in line with their respective political fiefdoms, there were signs grassroots activists – especially females – loved what they heard from Mace. Love her or hate her – believe her or disbelieve her – it was pure theater.

Also, don’t discount the potential Palmetto State fallout from the national love she is receiving – which can translate quickly into big dollar fundraising. Mace has always been a steady fundraiser, collecting $3.4 million during last year’s reelection bid and having $664,000 cash on hand as of December 31, 2024.

A Midas touch won’t matter if she doesn’t deliver the goods, though. Mace has thrown down some serious gauntlets… and at some point she’ll have to show her cards. If she’s holding a few aces… or has an ace in the hole… watch out. If not, her long-term prospectus is going to suffer.

While we await receipts, we’ll also await polling data showing how her high-stakes gamble is playing with the GOP primary voters who will ultimately decide her fate in sixteen months.

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ALAN WILSON

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STOCK: HOLDING

Wait… S.C. attorney general Alan Wilson takes a savage beating in a heavily promoted, widely watched address from his top political rival and his stock isn’t plummeting?

No…

Wilson responded calmly and dispassionately to Mace’s barbs. He also (and this is important) is not the prosecutor in line to receive her case… in the event the S.C. State Law Enforcement Division (SLED) finds probable cause of criminal conduct related to the allegations Mace made.

Then there was this disconnect…

Four weeks ago, Mace praised Wilson on X saying, “real men are joining our fight to protect women and girls … thank you, attorney general Wilson.”  During her floor speech, Mace said Wilson was “not a real man because real men protect women.”  

How can someone plunge from ‘Hero to Zero’ in such a short time span?

Wilson’s office fired off its response to Mace’s speech before she had settled back into her seat.

“It is clear that attorney general Alan Wilson has built his career on protecting the most vulnerable in our state; any statement otherwise is blatantly false and politically motivated,” it noted, in part.

“That’s one hell of a strong statement,” one Capitol Hill insider not associated with either side told us.

Wilson also received a nod on social media from a top Democrat in the Palmetto State, former lieutenant gubernatorial nominee Mandy Powers Norrell. The politician-turned-prosecutor praised him for “his dedication to protecting women and children from rape and other forms of abuse.”

Our index noted weeks ago that the Wilson-Mace match was becoming a classic case of the prizefighter versus the street fighter. We were wrong. It’s now a cage match. By making the accusations against Wilson the way she did, in the place she did, and in the manner she did, Mace went from street fighter to Mortal Kombat warrior.

Like Mace’s advisors, Wilson and his political team are also waiting for the post-speech polling to come in. What it uncovers will likely determine how much longer Wilson remains a “measured” prize fighter.

With a host of would other would-be candidates already circling in the water, though, Wilson can’t afford to risk being labeled as vulnerable for long.

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THOMAS RAVENEL

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STOCK: TRADING SUSPENDED

Here’s an indication of just how insanely wild the 2026 governor’s race is becoming. We’re actually talking about Thomas Ravenel again. Or are we?

After dropping a political bombshell two weeks ago regarding his candidacy, the former state treasurer/reality television star experienced a case of cold feet last weekend. He channeled his Inner Hamlet (“To be, or not to be?”) and mused in writing whether running was such a good idea after all. The result of the introspection was that he was, in fact, all in.

Well… for the moment. As this index was going to press, Ravenel – for the second time in as many weeks – bowed out of the 2026 contest.

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Being a single father of three young children, I believe this is not the time for me to be running for Governor of South Carolina. Consequently, I hereby withdraw my intentions to be a gubernatorial candidate in 2026. At this juncture of my life, it is much more important to…

— Thomas Ravenel (@Thomasravenel) February 11, 2025

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Veteran Palmetto political watchers were already shaking their heads in disbelief over the prospect of the one-time Whiz Kid of state politics trying for a comeback at age 62.

After all, “T-Rav” carries with him more baggage than a Zamundian delegation to Queens.

And has sown more “royal oats,” too…

Anyway, while Ravenel won’t be the one to exploit them, the Palmetto State’s demographics are changing – especially in the Lowcountry. The influx of Northern transplants to this side of the Mason-Dixon picks up speed with each passing year, leaving wide open a lane for a GOP candidate who, like Ravenel, embraces free market libertarianism.

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HENRY McMASTER

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STOCK: RISING

Exactly seven days ago, our index showed S.C. governor Henry McMaster’s stock falling. Today, it’s rising. What accounts for the reversal in his political fortunes?

Donald Trump – or, more specifically, the inexplicably intense loyalty he continues to show toward McMaster.

As rivals jockey for position in the 2026 race, hoping to secure Trump’s coveted endorsement – or as top lawyers aspire to secure his nomination to become South Carolina’s next U.S. Attorney – it’s becoming apparent the path to both goes through McMaster.

Or at least relies heavily on his imprimatur…

Trump is notorious for going through alliances the way a growing baby goes through diapers. Yet ever since then-lieutenant governor McMaster’s surprising 2016 endorsement of Trump, they’ve been the fastest of friends. Whenever anything South Carolina-related arises, Trump’s response always seems to be, “if it’s good enough for Henry, that’s good enough for me.”

Forget that McMaster’s lengthy run as governor has produced no significant tax cuts, no real spending cuts, no slowing of crony capitalism (think Scout Motors), no real school choice, no reforming of the state’s judiciary and no… well, pretty much nothing.

Despite his underwhelming résumé, McMaster still has Trump squarely in his corner… and it looks like he always will. Which means in those instances in which Trump’s endorsement matters – as it often will – McMaster’s stock will see frequent upticks.

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LINDSEY GRAHAM

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STOCK: RISING

This news outlet hasn’t always had the nicest things to say about South Carolina’s favorite warmonger… but his stock is ticking higher this week, nonetheless.

Why? Check the calendar. We are now just thirteen months before filing opens for the 2026 state primary election and incumbent “Republican” Lindsey Graham has yet to draw a serious primary challenger. Not only that, whispers of credible would-be candidates are few and far between. True, speculation had swirled for a while about congressman Ralph Norman taking him on. But that talk has shifted in recent weeks to Norman joining the potentially crowded field of folks hoping to become the Republican gubernatorial nominee.

Why does Graham have — at this moment at least — a clear path ahead for joining the U.S. Senate’s exclusive Five-Timers Club? The answer is summed up in three simple words: cold, hard cash. Graham is sitting on a pile of it and is adding to that pile each week. Additionally, if political push ever comes to shove, a myriad of special interests with a vested interest in keeping him on Capitol Hill would come charging to his rescue. To have a serious shot at bumping him off, a self-funding challenger would have to be almost Bill Gates or Warren Buffet-level rich.

So, Graham is basking in the moment. In fact, he watched Sunday’s Super Bowl in the private box alongside his on-again, off-again BFF Donald Trump. And given the latter’s solid approval rating both at home and nationally, Graham has said an enthusiastic “A-ok!’ to most of Trump’s appointees.  

What will happen when Graham inevitably splits with Trump again? We shall see… but for now he’s reaping the benefits of being in Trump’s good graces.

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