3 Stocks With the Best Chance to 20X in the Next Decade: June Edition

by | Jun 14, 2024 | Markets

Today, verifying that a company is on rock-solid footing before betting on such speculative plays is a priority. With less margin for error in a stricter rate environment, even some meme stocks and value traps still seem deceptively appealing despite their shaky foundations.

However, these three speculative stocks to 20X stand out as candidates to potentially compound gains over the next decade. While they occupy the riskier end of the spectrum and some are even pre-revenue, they have robust operational bases and strong market dynamics that could potentially propel their values to double by 2034.

AST SpaceMobile (ASTS)

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Source: Andrey Suslov / Shutterstock.com

Can you even list potential 20X without first picking AST SpaceMobile (NASDAQ:ASTS), considering its massive outperformance over the past month? After enduring a rocky few quarters (or even years) filled with highs from strategic funding only to be undercut by dilutive offerings, AST SpaceMobile’s stock was a source of frustration for many. Investors, weary of the near-constant hints at imminent commercial launches of space-based cellular connections, often opted to sell at a loss to sidestep ongoing uncertainty and volatility. However, selling might have been premature.

Over the past month, AST SpaceMobile’s stock surged 300%, propelled by two significant partnership agreements. The longstanding relationship with AT&T (NYSE:T), previously defined by a memorandum of understanding, has now solidified into a definitive agreement to service AT&T’s customers from space through 2030. This development hints at near-term commercial viability, a sentiment bolstered by a similar $100 million agreement signed with Verizon (NYSE:VZ).

Considering its pre-revenue status, current per-share pricing may seem steep €” but it’s nothing considering the stock’s potential over the next decade.

Stem (STEM)

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Sustainable energy stock Stem (NYSE:STEM) effectively merges two dynamic sectors: sustainable energy and artificial intelligence. Stem’s Athena software is an advanced control system that optimizes the interaction between generators, grid power, renewable energy sources like solar farms, and battery storage. An artificial intelligence framework drives the system; Athena autonomously optimizes energy distribution based on variables like weather conditions and energy pricing, making it a pivotal tool for large-scale enterprise clients in managing their sustainable energy resources.

Despite its current standing penny stock status, Stem harbors ambitious growth plans that set it apart amid stocks to 20X. The company’s vision, detailed in its “AI and the Future of Energy” white paper, showcases a strategic roadmap for leveraging AI to drive efficiency and advancement across the sustainable energy landscape.

However, like many stocks to 20X in the speculative renewable energy sector, Stem faces profitability challenges and experiences somewhat cyclical sales, which can introduce financial volatility. Yet, the company has moved beyond its initial startup phase and is building a robust portfolio of successfully executed projects. Investing in Stem represents a strategic decision to embrace a long-term, buy-and-hold approach within the sustainable energy sector, capitalizing on the expanding influence of AI on green technologies and infrastructure.

Rumble (RUM)

In this photo illustration, a woman holds a smartphone with the Rumble logo displayed on the screen. RUM stock

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Rumble (NASDAQ:RUM), an emerging streaming media platform, is quickly positioning itself among stocks to 20X as a robust alternative to YouTube. The platform is attracting many influencers and personalities drawn to its stance against perceived censorship and its diverse content offerings. Among Rumble’s notable achievements are securing a partnership with Barstool Sports, hosting popular and politically balanced commentators Saager Enjeti and Krystal Ball, and even platforming controversial figure Nick Fuentes (Elon Musk also recently reinstated the “hard-right political commentator” on X). Rumble surpassed 50 million active monthly users in the first quarter of 2024 €”a significant milestone, though still trailing behind YouTube’s massive viewership.

In its latest quarterly report, Rumble reported a loss of 14 cents per share, notably better than analyst expectations, which had forecasted a 22-cent loss per share. Alongside its financial results, Rumble announced a bold move: an antitrust lawsuit against Google (NASDAQ:GOOG, NASDAQ:GOOGL). The lawsuit accuses Google of online advertising biases that unfairly favor its own service, YouTube, over competitors like Rumble. While the outcome of this lawsuit remains uncertain, it marks a critical moment in Rumble’s challenge to the dominance of established media giants and underscores its long-term potential among stocks to 20X.

On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremy’s work can also be found at www.jeremyflint.work.

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