In a market that often focuses on mega-cap tech names, some of the most compelling growth opportunities can be found in smaller, less-followed companies with significant upside potential. While these investments typically come with higher volatility, they also offer the possibility of outsized returns for investors willing to accept additional risk.
We’ve identified three growth stocks trading under $50 per share that possess the fundamental catalysts and market positioning to potentially double investors’ money. These companies operate in high-growth sectors with substantial addressable markets and clear paths to expansion.
Applied Digital (APLD)
At around $7 per share and a modest $2 billion market cap, Applied Digital offers investors direct exposure to the explosive growth in AI data center infrastructure without the premium valuations of larger tech companies. The company specializes in designing, building, and operating data centers supporting artificial intelligence, blockchain, and high-performance computing applications.
What makes Applied Digital particularly compelling is its strategic location advantage. The company operates custom-built data centers in North Dakota, where energy capacity is abundant, electricity costs are low, and the cold climate provides natural cooling—critical advantages in an industry where power consumption and cooling represent major operational expenses.
Despite rallying nearly 60% over the past twelve months, Applied Digital remains approximately 50% below its February 2025 peak of around $12.50. This presents a realistic path to doubling from current levels if the company can execute on its growth strategy and benefit from the sustained demand for AI computing infrastructure.
The company recently announced a strategic decision to divest its cloud services business, which should provide additional capital to invest in its higher-growth AI and high-performance computing segments. This focus on the most promising areas of data center demand, combined with recent financing deals, positions Applied Digital to capitalize on the AI infrastructure buildout that shows no signs of slowing.
While certainly not without risk, Applied Digital’s specialized focus on next-generation computing infrastructure at a time of unprecedented demand growth creates a compelling opportunity for investors looking for direct exposure to the physical backbone of the AI revolution.
IonQ (IONQ)
For investors seeking exposure to the next potential computing breakthrough, IonQ offers a pure-play investment in quantum computing technology. Trading around $35 per share with an $8-9 billion market cap, this pioneering company is commercializing quantum systems that could fundamentally transform industries ranging from cryptography to drug discovery and financial modeling.
What separates IonQ from other quantum computing initiatives is its trapped-ion architecture, which the company claims delivers superior performance and error correction capabilities compared to competing approaches. This technological differentiation has helped IonQ secure partnerships with all three major cloud providers—Amazon Web Services, Microsoft Azure, and Google Cloud—making it the only quantum hardware available across all major cloud platforms.
The company’s impressive partner roster extends beyond cloud providers to include SK Telecom, Toyota Tsusho, General Dynamics, and Nvidia. These relationships not only validate IonQ’s technology but also provide multiple commercialization pathways as quantum computing transitions from research curiosity to practical business applications.
IonQ estimates its total addressable market could reach $87 billion by 2035, suggesting enormous growth potential from its current valuation if it can maintain its technological leadership position. While quantum computing comes with unique technical challenges and commercialization uncertainties, IonQ’s first-mover advantage and partnerships with tech giants create a credible path to significant share price appreciation for patient investors.
Summit Therapeutics (SMMT)
Summit Therapeutics offers investors exposure to a potentially transformative cancer treatment at a relatively accessible price point of around $24 per share. Despite its larger $17+ billion market cap, Summit represents a compelling growth opportunity based on the potential of its lead asset ivonescimab, a novel cancer immunotherapy currently in late-stage clinical trials.
The company’s growth thesis centers on ivonescimab’s potential in non-small cell lung cancer (NSCLC), with mid-2025 data readouts expected from an important phase 3 trial evaluating the therapy in combination with chemotherapy. What makes Summit particularly interesting is that its partner Akeso has already secured two regulatory approvals for ivonescimab in China after the drug demonstrated superiority to Merck’s blockbuster Keytruda in a head-to-head clinical trial.
This existing regulatory validation in China significantly de-risks Summit’s clinical program and suggests a higher probability of success in securing FDA approval than typical late-stage oncology candidates. If ivonescimab can replicate these impressive results in U.S. studies, it could challenge established players in the multi-billion-dollar cancer immunotherapy market.
Beyond its initial lung cancer indication, Summit is expanding ivonescimab’s development into additional cancer types including cutaneous squamous cell carcinoma and glioblastoma. This pipeline expansion creates multiple pathways to growth and could substantially increase the drug’s commercial potential over time.
While biotech investments always carry clinical and regulatory risks, Summit’s combination of late-stage assets, existing regulatory validation in international markets, and multiple cancer indications in development creates a risk-reward profile that could reward investors with significant upside if ivonescimab successfully navigates the approval process.
Bottom Line
Applied Digital, IonQ, and Summit Therapeutics represent three distinct approaches to high-growth investing across technology infrastructure, quantum computing, and biotechnology. While each company faces its own set of challenges and competitive pressures, all three share a common thread: significant market opportunities, differentiated positioning, and reasonable valuations relative to their growth potential.
For investors willing to accept higher volatility in exchange for the possibility of outsized returns, allocating a portion of a diversified portfolio to these types of growth opportunities can be a sensible strategy. With share prices under $50, these stocks also offer accessibility to investors working with more modest initial capital.
As with any high-growth investment, position sizing is critical—these companies should represent speculative allocations rather than core holdings for most investors. However, for those seeking exposure to potentially transformative technologies and treatments with the possibility of doubling their investment, these three stocks merit consideration as part of a balanced growth portfolio.
