2 Supercharged Growth Stocks Down 83% and 92% From Their All-Time Highs That Can Double by (or Before) 2028

Lyft is down 83% from its all-time closing high but reported gross bookings up 15% in 2025 and active riders up 18% to 29.2 million; shares trade at 14x forecast 2027 EPS and 0.74x projected sales this year (vs. Uber's estimated 2.63 P/S in 2026). Webull is down 92% from its ATH with registered users rising 15% to 26.8 million and options contract volume up 38% to 154 million; the platform is pushing to adjusted profitability, reintroduced crypto trading in Aug 2025, and trades at 3.7x projected 2026 sales and 18x 2027 EPS with expected >20% annual sales growth.

Analysis

Lyft’s upside hinges less on broad TAM headlines and more on two operable levers: margin expansion from non-ride revenue (ads/subscriptions) and tighter unit economics via higher utilization per driver. If management can convert even a low-single-digit ARPU uplift from targeted local advertising into incremental gross margin, the company’s free cash flow trajectory would re-rate independently of share gains versus Uber. This creates a non-linear payoff where modest ad monetization scales to outsized equity returns while attracting different buyer pools (advertisers, local merchants) that value recurring, high-margin spend.

Second-order winners include regional adtech partners and local commerce platforms that can embed ride intents; used-vehicle and fleet-leasing vendors will see demand shifts as platforms optimize for asset utilization and EV conversions. Conversely, mobility-focused OEM programs and driver-focused fintech lenders could be strained if regulatory pressure forces higher driver compensation, pushing margin pressure back onto platforms. For Webull, revenue sensitivity to deposit beta and options/crypto volumes means macro rates and regulatory clarity are the primary short-horizon drivers; a small shift in retail activity can swing EBIT materially due to high operating leverage.

Key risks: tighter gig-worker regulation, a faster-than-expected AV rollout compressing ride yields, and privacy/regulatory limits on ad targeting that would blunt the high-margin upside. Timeframes: watch KPI inflections and ad-revenue proof points over the next 3–12 months; treat regulatory and AV outcomes as multi-year binary events. The prudent tactical approach is to express asymmetric exposure to platform-specific execution (Lyft, Webull) rather than broad transport/fintech beta, and prefer option structures that cap downside while leaving upside convexity intact.

Key Decisions for Investors

• Pair trade (12–18 months): Long LYFT equity (size 2–3% NAV) / Short UBER equity (size 1–1.5% NAV) to isolate Lyft execution and monetize valuation dispersion. Target 2x upside on the pair if Lyft re-rates on ad/ARPU proof; initial stop-loss at 30% from entry on the long leg or if Lyft’s gross margin guidance misses by >200bp.
• Options trade (9–15 months): Buy LYFT 12-month call spread (long LEAP call ~25–35% OTM, short call ~60–80% OTM) sized to risk 0.5–1% NAV. Finance by selling 3–6 month covered calls on a portion of the position to improve carry; objective: 3–5x potential return if ad/ARPU materializes, max loss = premium paid.
• Webull (BULL) tactical (6–12 months): Buy BULL 9–18 month call spread to capture adjusted-EBITDA inflection driven by higher deposits/options volumes; cap position to 0.5–1% NAV. Hedge regulatory/crypto risk by pairing with a short small fintech-crypto ETF position (~0.25% NAV) and exit if deposit beta normalizes unfavorably or regulatory headlines escalate.
• Event-risk hedge (3–12 months): Buy put protection on LYFT sized to 1% NAV (3–6 month puts) ahead of earnings/driver-regulatory milestones to cap downside from binary policy shocks. Take profits on puts if volatility spikes >40% implied or if management produces a clear multi-quarter path to ad monetization.