Navigating the stock market is a tough job. With stocks flying high left and right, getting caught in the FOMO and excessive investor exuberance is easy. As another side effect, FOMO can also eclipse smaller, less noticeable stocks that have the potential to supercharge your returns.  Despite this, there are some stocks to supercharge returns for investors.

There are many reasons why such stocks fly below other investors’ radars. Perhaps they’re not in a popular sector, or their offerings haven’t seen widespread market adoption.

Regardless of the reason, many investors can benefit from exploring these underappreciated gems before the market catches wind of their potential. Who knows?

They may be the stocks that will 10x over the next ten years. 

Blade Air Mobility (BLDE) 

If you fancy riding cars like in the movies, you should watch Blade Air Mobility (NASDAQ:BLDE). The company offers healthcare providers and hospitals cost-effective access to air vehicles. Today, available units include helicopters, seaplanes, and jet charters. 

The company is developing an EVA, or electric vehicle aircraft, with expected deliveries in 2024. The new tech allows cost-effective, noise-reduced, and emission-reduced travel over congested ground routes. It also has the potential to transform point-to-point and emission-free flights to cities worldwide.

Blade Air’s FY’23 revenue increased 54.1% YOY, from $146 million to $225.18 million. Adjusted EBITDA also went up by $10.8 million. While this is all impressive, the company still has issues maintaining profitability. Full-year net loss increased by 105.7% to $56 million. This is somewhat expected, as the company is still just ramping up. It’s one of those stocks to supercharge returns.

That said, CEO Rob Wiesenthal has expressed optimism for 2024. “After a rewarding year of strong growth, flight profit margin expansion and cost structure improvements,” he says, “we are now confident to begin providing guidance to our investors for positive Adjusted EBITDA for the year-ending December 31, 2024 and double-digit Adjusted EBITDA in 2025.”

Indeed, Blade Air has increased its fleet of medical vehicles and tripled its Medical segment. It remains focused on enhancing margins over the next few years. 

With such positive developments, investors might consider BLDE as one of the potential stocks that can supercharge returns over the long run. 

Tilray Brands (TLRY)

One of Canada’s biggest cannabis companies, Tilray Brands NASDAQ:TLRY), is a pharmaceutical company at the forefront of cannabis medical research worldwide. 

Besides medical cannabis, the company also manufactures wellness products, hemp-based food products, and beverages and alcohol as part of its other business segments. Tilray Brands is seen as a major benefactor of the legalization of cannabis in the German market for personal use. This opens up opportunities to tap into a $45 billion market. 

Tilray reported an excellent 34% YOY growth in overall net revenue for Q2’24. With another noteworthy increase in net revenue in Canada, the company is now the #1 cannabis operator in the country in terms of sales volume and market share. The company isn’t doing too badly in other regions either, with the company showcasing 55% revenue growth in international markets. 

Impressive growth aside, Biden’s ongoing marijuana reforms (with him saying in a recent State of The Union, “No one should be jailed for using or possessing marijuana”) is a strong growth catalyst for Tilray. This makes it one of those stocks to supercharge returns.

Easing regulations and an established market dominance can do wonders for the company’s future. The question now is, how fast and how high will it fly?

First Solar (FSLR)

This Wall Street favorite is currently one of the main beneficiaries of the ongoing green revolution. First Solar (NASDAQ:FSLR) builds Cadmium telluride (CdTe) solar modules for power generation. These modules convert sunlight into electricity. With the current government’s recently approved clean energy projects, First Solar is brimming with potential.

Its recent sale of up to $700 million in 2023 IRA tax credits to Fiserv is expected to positively impact the company’s cash positions.

With the Biden administration’s strong push for a green economy, First Solar stands to be one of the main beneficiaries of future growth. Its ability to serve large solar power providers and utility companies in need of expansion makes it one of the best prospects for growing your portfolio in the near future. 

Besides its growth potential from the political perspective, the company has reported stellar growth. 2023 net sales reached $3.3 billion, driven by higher module volumes and average selling prices. Bottom-line figures also saw a massive jump from a diluted net loss of 41 cents per share in 2022 to a $7.74 net gain in 2023. 

With strong financial performance and a fantastic catalyst right around the corner, it’s easy to see how FSLR can become one of the best stocks that could 10x in 10 years. All in all, it’s one of those stocks to supercharge returns.

On the date of publication, Rick Orford did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.