We’ve all made investment decisions we regret, but none sting more than missing the boat on a stock that explodes. Early-stage stocks can disappoint especially if they were on your radar well before it dominated markets.

Early-stage stocks present a unique, but tricky, opportunity. It’s tough to sort good from the bad, especially in today’s market, as many of the hottest stocks in 2021 are in the gutter today.

Don’t get caught up in market exuberance when evaluating early-stage stocks. Instead, look to the basics: is the company financially and fundamentally sound with a viable product and long-term prospects?

These companies, ranging from automation tools to clean energy, fit the bill. As early-stage stocks, they stand to generate enormous wealth for those ready to roll the dice and invest. 

Instacart (CART)

Grocery delivery company Instacart (NASDAQ:CART) popped onto the scene this week in a much-anticipated IPO. Although shares slid substantially post-listing, from around $40 to just above $30, the company went public at an inauspicious time. 

The September slump is in full effect, and CART listed the same week the Fed announced “higher rates for longer.” Neither helped CART’s performance post-IPO, and some analysts are notably bearish. 

Needham analysts embody the bear consensus, saying, “Our expectations for post-pandemic online grocery sales in the US are likely going to be below consensus, and we see structural headwinds against adoption.”

But reality doesn’t seem to support that sentiment. Instead, Instacart holds 70% of the US home grocery delivery market. That market comprises half the nation. Even if both stats remain flat, which is unlikely, continued reliance on home grocery delivery from the baseline consumer segment bodes well for Instacart. 

Its pre-IPO filing showed a $4 billion transaction volume increase between 2021 and 2022. In that period, pandemic fears were waning, and economic pressure was increasing. 

If Instacart expanded its operational revenue in as tough a time as that, this early-stage stock is well-positioned to continue a strong growth trend today.

Klaviyo (KVYO)

Klaviyo (NYSE:KVYO) hit the markets for the first time this week.

Unlike Instacart, the company’s public listing fell under the radar. Unlike Instacart, Klaviyo’s share price remained fairly steady post-IPO, dropping “just” 7%. 

But the stock remains above its original $ 30-per-share listing price, showing investors think Klaviyo has enormous wealth-making potential. 

Klaviyo is a marketing automation company focused on email and text messaging management, and its growth is impressive. Its growth exploded in 2021, nearly doubling from $190 million in recurring revenue to $375 million. 

That growth trend continued, albeit slower, in 2022 as revenue peaked at $580 million.

Klaviyo’s critical lynchpin is its relationship with Shopify (NYSE:SHOP), which holds an 11% stake in the marketing firm. 

The two platforms are closely intertwined, and 78% of Klaviyo’s recurring revenue came from Shopify customers in 2022. That may seem risky, as Klaviyo staking that much revenue from a single source could be problematic. 

Shopify’s substantial growth trajectory shows customer dedication to that platform, which lacks an organic integrated marketing automation tool. Klaviyo fills that void, and, as eCommerce trends accelerate, Klaviyo is well-positioned to generate wealth for early-stage investors. 

Sharkninja (SN)

Sharkninja (NYSE:SN) is on a run this month, bucking slow September trends. Shares grew 40% in the past 30 days, but there’s still upside to this consumer discretionary stock. 

Analysts at Jefferies, the first Wall Street firm to formally assess Sharkninja, pegged its fair price at $67 per share. That price target is still 40% above current pricing, meaning its run might not be over.

Sharkninja is a home appliance juggernaut, providing a range of semi-luxury products at an affordable price. Its sales growth, 20% annually since 2008, is notable as it continues performing in a constrained economy. 

Management expects $4 billion in revenue for the current year, meaning the stock is bucking wider trends and performing well even as consumers close their wallets and tighten household budgets. 

This stock has more room for growth, and its price is attractive despite a hefty jump post-public listing. Sharkninja is one stock to keep on your radar for those looking for the next big wealth-maker. 

SoFi Technologies (SOFI)

SoFi Technologies (NASDAQ:SOFI) stock doubled since last year but remains well below post-IPO pricing. 

Much of SoFi’s recent struggles center on higher interest rates and the student loan pause cutting into one of its core revenue streams (loan refinancing). But SoFi is positioned to continue expanding and, in many cases, start stealing legacy banking customers. 

 “We’re really stealing share from the big banks, and so we’ve been able to add more than $2 billion of deposits in each quarter since getting our bank license,” CEO Anthony Noto told CNBC last week, “and we reported in Q2, we remain confident that we can add $2 billion plus each quarter, and we’re on track to do that.” 

Although SoFi’s primary operational model was loan refinancing, it got approval to operate as a bank last year. So, while the company isn’t new, its foray into traditional banking certainly is. And customers are taking notice. 

SoFi’s customer base grew 44% year-over-year, as reported in its most recent quarterly report. As student loans restart and rate uncertainty dissolves, SoFi is ready to generate wealth for shareholders buying at today’s levels.  

Frontier Communications (FYBR)

Telecom company Frontier Communications (NASDAQ:FYBR) is a fairly new entrant into a crowded field, listing publicly in 2021. 

Mid-pandemic, the company cut its cable cord and stopped offering legacy television services. Today, via a partnership with YouTube, Frontier offers new users access to YouTube TV.

The platform offers typical YouTube offerings alongside standard live television channels, including AMC, FX, and USA. 

Today, Americans spend less than half their “viewing time,” or time spent planted in front of a screen watching content on legacy television. 

As consumers cut their cable cords, Frontier is a position to snag a growing market share of those focused solely on streaming. Pricing for the model is also cheaper for consumers, which bodes well in today’s tight economy, where customers still demand a diversion from their daily lives. 

Kodiak Gas Services (KGS)

Kodiak Gas Services (NYSE:KGS) debuted on markets in late June and stands 11% above its initial pricing despite a slow start.

Since then, market chatter about the stock has been strangely subdued, considering its convincing performance. 

Of course, oil market turbulence puts downward pressure on smaller oil and gas companies like Kodiak. 

Still, things are slowly returning to semi-normal for global energy markets, which means Kodiak could break out and generate substantial wealth for investors. 

Despite volatility, Kodiak’s quarterly performance remains strong, and the company generated $755 million in revenue over the past twelve months. That represents around 15% quarterly growth, which, while not spectacular, is noteworthy considering the conditions. 

Morningstar analysts peg the stock price at 23% undervalued. When energy markets stabilize, and inflation cools further, Kodiak is one early-stage stock in the oil and gas sector set to burn hot. 

NET Power (NPWR)

NET Power (NYSE:NPWR) is a holdover from SPAC mania and merged with holding company Rice Acquisition II in June. But it’s one stock standing strong post-merger, which is more than many can say today.

It’s nearly 60% above its listing price, but the energy company has a long, fruitful future ahead. 

NET Power is unique in the energy industry. The company is the first to integrate carbon capture technology in clean-energy operations wholly.

Instead of all the peripheral pollutants released during natural gas burning, NET Power’s method only releases carbon dioxide and water as it generates electricity. That carbon dioxide is used for further energy production or buried, resulting in limited emissions. 

Carbon capture has a bright future as global economies transition to net-zero initiatives. NET Power is also financially stable, with zero debt. That’s virtually unheard of for energy companies operating in a cash-hungry industry.

As regulatory demand puts pressure on carbon emissions, NET Power’s early-stage status makes it one of the few companies ready-made to adapt to changing expectations. 

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.