Tired of watching your portfolio crawl along? Standard investment advice often includes diversifying into bland, safe bets. But what if you desire higher returns, even if it means more risk? Strategic investment in well-researched, riskier wild-card stocks can be the secret ingredient to amplifying your gains. 

Yes, there’s a chance of getting burned, but with careful selection and a dash of courage, you could just as easily win. So, ditch the boring and consider embracing the bold. Not all investors have the same tolerance for risk. That said, there are plenty of good reasons to consider a more risk forward investment strategy. One of the most salient is inflation. The value of the dollar is not what it used to be and that makes a riskier approach more attractive.

Bearing that in mind, let’s look at three wild-card stocks to buy in an effort to spice up your portfolio and supercharge your returns.

Altimmune (ALT)

Altimmune (NASDAQ:ALT) is certainly one of the most risky investments out there. The fact that it has short interest of about 30% is a clear indication of the inherent risk.

Of course, risk begets reward. Indeed, Altimmune stock could reward investors handsomely. It is one of  a handful of emerging weight loss stocks to consider following the success of Eli Lilly (NYSE:LLY) and Novo Nordisk (NYSE:NVO). 

Despite their incredible benefits, GLP-1 agonist drugs from those firms are not without serious side effects. Weight loss is associated with decreases in both fat mass and muscle mass. Higher muscle mass preservation is associated with several benefits. However, Eli Lilly and Novo Nordisk’s GLP-1 agonists are associated with significantly higher rates of muscle loss.

Patients on Altimmune’s developmental Pemvidutide drug experienced a 25.5% decrease in lean muscle mass. Ozempic and Wegovy are associated with a near 40% decline in lean muscle mass associated with weight loss. 

The drug is also associated with a reduction in liver fat and hepatitis B treatment. The FDA granted the company a fast track designation for Pemvidutide in the treatment of a variant of fatty liver disease. Results are expected in the first quarter of 2025 so it should be a wild ride for ALT stock.

Jumia Technologies (JMIA)

Jumia Technologies (NASDAQ:JMIA) is one of the wild-card stocks to buy that is likely just hitting its stride. The e-commerce platform focused on multiple African markets recently moved sharply higher. 

Analysts at research firm Benchmark initiated coverage of the stock with a “buy” rating. That was the latest catalyst propelling Jumia Technologies higher in 2024 but not the only one. In fact, the stock has more than tripled in value this year.

Investors around the globe continue to fawn over the opportunity for e-commerce in Africa. Many of those emerging markets are bristling with relatively untapped potential. 

E-commerce growth throughout the continent has been very strong on an annual basis lately. It is expected that there will be more than 500 million e-commerce users throughout Africa by 2025. As infrastructure continues to be built, more and more will come online. Although company-wide growth isn’t expected to be particularly rapid at this point, a ramp up is possible if positive factors conspire. 

Grab Holdings (GRAB)

Grab Holdings (NASDAQ:GRAB) is certainly a risky stock choice overall. That’s evident in its sub-$5 share price. However, the company continues to make rapid strides forward and is fast approaching profitability.   

One of the most obvious reasons to consider investing in Grab Holdings is that the company is fast approaching positive overall net income. The company improved rapidly in the first quarter, posting an earnings per share (EPS) of $-0.03 overall. That prompted management to increase EBITDA guidance by $70 million for the upcoming quarter. Overall profitability looks to be just around the corner. That’s reason enough to pick up GRAB shares at sub $4 prices.

The company reduced losses by $134 million in Q1. A big part of that improvement was attributable to reductions in net interest expenses. Upcoming rate cuts could spur further improvements in that realm moving forward.

Again, Grab Holdings is a risky stock given its age and price. However, it is clearly being led by a competent management team and that alone is a massive factor in its favor. 

On the date of publication, Alex Sirois did not hold (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.

On the date of publication, the responsible editor did not hold (either directly or indirectly) any positions in the securities mentioned in this article.