If you’re looking for a few stocks to make you rich beyond your wildest dreams, you must take risks. Risky stocks may not be everyone’s cup of tea, but for the courageous investor, it could pay off in a big way.

While low-risk stocks provide stability, particularly for buy-and-hold investors, risky stocks have greater potential for oversized returns. Blue-chip stocks are stable and may have limited upside, but risky stocks give you a better chance of outperforming the market if your bets are correct.

But there are downsides as well. Rather than a set-it-and-forget-it system, risky stocks will require an investor to do more research and actively manage their portfolio.

If you’ve got the time and spare capacity, that could be appealing. If not, then investing in risky stocks may not be for you.

Ultimately, it depends on your financial situation, your objectives and, of course, your risk tolerance. But if finding risky stocks to make you rich sounds appealing, use the Portfolio Grader to identify a few names that should be high on your list.

Carvana (CVNA)

Carvana (NYSE:CVNA) is an online used car retailer. It’s best known for its giant automobile “vending machines” available in several states, but you can also have your new car delivered directly to your house. It’s not as much fun but still convenient.

Carvana sells vehicles exclusively through its app. You can shop, compare and do the entire deal online, including setting up your financing. Once your car is delivered, you have a week to drive it around and decide whether to keep it.

Carvana is working with state legislators to make online car-buying easier, opening up more markets. And while it has a solid business model, investors should also be wary of its steep debt load, which was reported to be at $9 billion earlier this year.

Carvana is taking steps to shore up its balance sheet, including making debt-restructuring agreements and reducing its debt by more than $1.3 billion.

The stock, which traded at less than $5 at the beginning of the year, is up more than 570% this year. This highly volatile stock has a “B” rating in the Portfolio Grader.

Archer Aviation (ACHR)

Archer Aviation (NYSE:ACHR) can best be described as a flying car stock. The company is working with its partner, United Airlines (NYSE:UAL) for a planned air taxi shuttle service. United Airlines committed to purchasing 100 of Archer’s vehicles.

Archer is also working on getting regulatory approval from the Federal Aviation Administration to begin commercial operations by 2025. Archer also has some contracts with the U.S. Air Force, which is working on the military possibilities for electric vertical take-off and landing technology.

The stock is still cheap, around $5 per share. But this year, the price is up more than 165% as investors gather interest.

But Archer is also a commonly shorted stock. The short interest for Archer Aviation is more than 24%, putting it at greater risk for volatility and a potential squeeze.

If you are betting on a future that involves flying cars, then Archer may be a good, risky pick. ACHR stock gets a “B” rating in the Portfolio Grader.

C3.ai (AI)

With all the focus this year on generative artificial intelligence, it’s logical that a company that uses “AI” as its ticker would do well. C3.ai (NYSE:AI) has plenty of substance, however, and it’s a solid AI play that’s had an up-and-down year.

AI stock was up more than 318% at one point this year. But then it lost nearly half its value since June as investors pulled back somewhat from AI stocks. But returns in 2023 are still solid, registering at 130% since Jan. 1.

The company is an enterprise AI software provider for building enterprise-scale AI applications. It provides products for the manufacturing, financial services, government, utilities, oil, chemical, agribusiness and defense industries.

Earnings for the fiscal first quarter of 2024 (ending July 31, 2023) was $72.3 million in revenue, up from $65.3 million a year ago. More than 85% of the company’s revenue comes from subscriptions, giving it a solid revenue stream that should continue to grow.

AI stock has a “B” rating in the Portfolio Grader.

VinFast Auto (VFS)

VinFast Auto (NASDAQ:VFS) is a Vietnamese electric car manufacturer. It currently has four models (all SUVs), and it is ramping production up quickly.

In the third quarter, VinFast delivered 10,027 units, compared to just 153 units in the same quarter a year ago. The company says it plans to deliver 40,000 to 50,000 of its vehicles this year and will start deliveries of its VF 6 compact SUV in the fourth quarter.

The company is still new to investors. It just began trading on the Nasdaq composite in August after completing a blank-check merger with special purpose acquisition company Black Spade Acquisition.

Shares opened at $22 when they first hit the market, valuing the company at $23 billion. But shares are now less than $6, falling as insiders began cashing out.

Yes, this company will have plenty of volatility, and the market cap is now down to $14 billion. But as the company fishes for capital to meet its ambitious goals, VFS stock may be perfectly primed for major returns down the road – if you’re looking for a risky pick.

VFS stock has a “B” rating in the Portfolio Grader.

EHang Holdings (EH)

EHang (NASDAQ:EH) is building an autonomous aerial vehicle platform in China. And it’s further along than Archer Aviation, as China recently approved the eVTOL technology and gave the OK for EHang to carry passengers.

The EH216-5 can carry passengers and charge for rides. It is a two-passenger aircraft with a cruising speed of 62 miles per hour and a maximum altitude of 9,800 feet. The company plans to sell the vehicle overseas next year.

It’s an amazing technology and could become incredibly popular – assuming that EHang gets approval to sell the vehicle in Europe and the U.S.

But that’s a risk that you’d have to take. EH stock is up 122% this year and gets a “B” rating in the Portfolio Grader.

Riot Platforms (RIOT)

Riot Platforms (NASDAQ:RIOT) is a Bitcoin (BTC-USD) mining company with mining operations and a data center in central Texas, and engineering and fabrication facilities in Denver.

The company is one of the biggest Bitcoin miners on the market, with more than 95,900 miners deployed and a hash rate of 10.7 exahashes per second. An exahash is 1 quintillion hashes, or 1,000,000,000,000,000,000 hash computations.

While Bitcoin doesn’t trade anywhere near its 2021 high, the price of the cryptocurrency is still significant, at more than $28,000. That price is up 75% this year.

Riot owns more than 7,000 Bitcoin, so it’s a solid bet if you think the price of BTC will go up again.

It also takes advantage of programs in Texas to get power credits during heatwaves, earning more than $31 million this summer by being in programs that compensate consumers for adjusting their consumption.

Mining Bitcoin takes tremendous power, so making temporary adjustments to get those earnings is a solid strategy.

RIOT stock isn’t for everyone. But if you are OK with risk, it has a “B” rating in the Portfolio Grader.

Xpeng (XPEV)

Xpeng (NYSE:XPEV) is a Chinese EV maker having some good months. The stock sentiment shifted from bearish to bullish as the company significantly improved its monthly delivery numbers.

Deliveries in September were 15,310, an increase of 81% from a year ago. The company reported delivering 40,008 units for the third quarter, a rise of 72% from the second quarter.

Xpeng is also setting its sights on more than just China. It began deliveries of its Xpeng G9 SUV in the third quarter to Norway, Sweden, Denmark and the Netherlands.

It agreed with Volkswagen Group (OTCMKTS:VWAGY) for a long-term strategic partnership, with plans to develop two vehicles under the Volkswagen brand jointly.

Xpeng is also in the flying car or eVTOL space. It was the first crewed eVTOL to get a flight permit in China.

XPEV stock is up 38% this year, and it gets a “B” rating in the Portfolio Grader.

On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.