In this article, we will take a look at the 9 stocks that could 10X over the next 2 years.

US Tariffs and the Stock Market Turmoil

While tariffs from the US government disrupted international trade, they also led to uncertainty and turbulence in financial markets, with the  S&P 500 closing below 5,000 points for the first time in nearly a year. An analysis from the World Economic Forum regarding how tariffs cause volatility in financial markets was stated in the words of Santiago Fernández de Lis, Head of Regulation, BBVA, as follows:

“The main impact of trade tensions on global markets is through uncertainty. When major economies—like the US and China—engage in a tariff war, investors fear slower global trade, disrupted supply chains and weakened corporate profits. This anxiety translates into market volatility. Companies delay investment decisions, consumers lose confidence, and currencies fluctuate wildly.”

However, global markets rebounded later as the US president made an announcement of a 90-day pause on additional higher tariffs that had to impact almost 80 countries, with the exception of China. In the case of China, the new president is convinced to keep high tariffs as he stated that these tariffs would be increased to 125% from 104% following China’s announcement of additional retaliatory tariffs against the US.

Following this pause in tariffs, Wall Street witnessed a sigh of relief. The S&P 500 rose 9.52%, thereby marking its biggest one-day gain since 2008. The Dow Jones Industrial Average climbed almost 7.87%  to close at 40,608.45. Simultaneously, the tech-heavy Nasdaq soared 12.2% and had its best day since January 2001.

With that being said, let’s move to the 9 stocks that could 10X over the next 2 years.

Our Methodology

To compile our list of the 9 stocks that could 10X over the next 2 years, we first carried out a consensus by sifting through multiple similar articles online. Once we had an extended list of the stocks that could 10X over the next 2 years, we shortlisted the top 9 stocks based on the number of hedge funds that have stakes in them, as of Q4 2024.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

9 Stocks That Could 10X Over the Next 2 Years

9. Robinhood Markets, Inc. (NASDAQ:HOOD)

Number of Hedge Fund Holders: 79

Robinhood Markets, Inc. (NASDAQ:HOOD) is an American financial services company that allows trading stocks, options, crypto, and futures, including options on futures, swaps, and even contracts. It was the first US retail broker to offer commission-free stock trading with no account minimums.

Deutsche Bank analyst Brian Bedell has reiterated a Buy rating on the stock, noting the firm’s plans for offers to attract active traders better. The analyst slightly increased the price target by $1 to $62, although he had previously lowered the price target to $61 from $75. He saw continued strong momentum in trading volumes across equities and options based on the firm’s promising performance in February. February operating data from the firm revealed that its Assets Under Custody (AUC) at the end of the month were $187 billion, up 58% year-over-year. Simultaneously, Net Deposits were $4.8 billion in February, recording a 28% annualized growth rate relative to January 2025 AUC. On the contrary, the price targets for the stock were lowered to $70 from $75 at Piper Sandler and to $45 from $76 at Barclays. Concerns mentioned by analysts at these firms included brokers currently subject to ‘a more intense headwind from a lower in-period Fed funds and futures curve’.

8. Spotify Technology S.A. (NYSE:SPOT)

Number of Hedge Fund Holders: 101

Spotify Technology S.A. (NYSE:SPOT) is a dominant player in audio streaming, having over 675 million users which includes 263 million subscribers in more than 180 markets. Spotify offers access to more than 100 million tracks, 6.5 million podcast titles, and 350,000 audiobooks.

As the most popular audio streaming subscription service globally, Spotify Technology S.A. (NYSE:SPOT) continues to accelerate the growth of the audiobook business. While the firm witnessed early adoption of podcasts and audiobooks in Germany, the current demand for audiobooks across German-speaking markets remains strong. On April 15, the company announced the launch of an enhanced audiobooks offering in Germany, Austria, Switzerland, and Liechtenstein under which eligible Premium listeners would be able to access 350,000 audiobooks, including titles in French, German, and Italian. The firm is also enhancing the listening experience through an expanded catalog with Audiobooks in Premium, allowing listeners a range of benefits, including pre-saving upcoming releases, saving their progress in an audiobook, and exploring recommendations from the Home feed. To support audiobook production in countries where the audiobook market is still growing, Spotify Technology S.A. (NYSE:SPOT) has declared that it will invest €1 million to accelerate the production of audiobooks in non-English languages, beginning with French and Dutch.

7. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 107

Alibaba Group Holding Limited (NYSE:BABA) serves as the parent company of the global wholesale marketplace, Alibaba.com. It operates seven segments, including China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media & Entertainment, and Innovation Initiatives & Others.

The firm’s combination of retail, advertising, and cloud businesses offers a balanced portfolio of high-growth opportunities, while its ability to leverage AI across these areas is enabling a powerful growth trajectory. The digital technology and intelligence backbone of Alibaba Group, Alibaba Cloud, recently unveiled a set of new AI models, tools, and infrastructure upgrades for its global users. Alibaba Cloud also introduced a new suite of Software-as-a-Service AI products to accelerate digital transformation across industries. Alibaba Group Holding Limited (NYSE:BABA) has planned to invest at least $53 billion over the next three years to advance its cloud computing and AI infrastructure, as announced in February 2025. Alibaba Group Chairman Joe Tsai has also highlighted the opportunities unleashed by AI for the company as he stated ‘we just see so much upside to AI… and that’s why we’re all in.’ as he emphasized Alibaba being the only company in China running both a leading cloud business while being competitive in AI. Nightview Capital stated the following regarding the company in its Q4 2024 investor letter:

“Alibaba’s focus on stabilizing its core businesses, coupled with growth of its cloud and AI divisions, positions the company for a breakout. With 25% of its market cap in cash, We believe Alibaba offers a highly compelling risk / reward opportunity from a valuation perspective.”