2 Top Stocks That Could Double in 2026

With the S&P 500 up 15.7% through Dec. 16 and stocks having posted three straight years of double-digit gains, the Motley Fool highlights two contrarian 2026 rebound candidates: Sweetgreen and Amplitude. Sweetgreen (NYSE: SG) is down 77% YTD after weakening comparable sales, wider losses, a damaged loyalty program and price-sensitivity among younger diners; management has sold Spyce to free cash, will slow new-unit growth to 15–20 restaurants in 2026 (vs. 37 in 2025) and benefits from strong average unit volumes (~$2.8m), meaning cost cuts and easier comps (2025 comps forecast to fall ~7.7%–8.5%) could enable a rapid recovery. Amplitude (NASDAQ: AMPL) is seeing accelerating revenue traction after product additions and AI-agent launches, reporting Q3 ARR +16% to $347m, revenue +18% to $88.6m and RPO +37% to $391.9m; trading at ~4.3x price-to-sales with a $1.5bn market cap, it could rerate materially if growth accelerates in 2026.

Analysis

The equity market has delivered a strong 2025, with the S&P 500 up 15.7% through Dec. 16 and three consecutive years of double-digit gains, but commentary highlights uncertainty for 2026 winners amid debates over an AI-driven leadership concentration and broader participation. This backdrop sets a higher bar for recovery candidates and increases the importance of operational inflection points.

Sweetgreen (SG) is a distressed consumer name down 77% YTD after weakening comparable sales, wider losses, a damaged loyalty pass and perceived high pricing among younger diners. Management has sold the Spyce subsidiary to Wonder while retaining technology rights, will slow new openings to 15–20 in 2026 (versus 37 in 2025) and points to $2.8m AUVs and easier comps (2025 comps expected to fall ~7.7%–8.5% after +6% in 2024) as levers for a rebound; the stock has rallied ~40% from its low but could still double without returning to 2024 levels.

Amplitude (AMPL) shows product-led momentum tied to AI: Q3 ARR rose 16% to $347m, revenue jumped 18% to $88.6m and RPO increased 37% to $391.9m as the firm adds AI agents and strategic acquisitions. Trading at ~4.3x price-to-sales with a $1.5bn market cap, the company can materially rerate if it sustains accelerating growth and contract durations, but execution and go-to-market traction remain critical.

Investment implications are binary: Sweetgreen’s recovery depends on macro and margin progress from cost cuts and slowed expansion, while Amplitude’s upside hinges on converting AI-enabled product enhancements into faster ARR growth and larger RPO realization; both carry idiosyncratic execution risk despite attractive upside potential.

Key Decisions for Investors

• For Sweetgreen, consider a tactical, size-limited speculative position only after confirming sequential stabilization in comparable sales or clear margin guidance toward break-even, monitor the cash impact from the Spyce sale and execution on the slower unit-growth plan
• For Amplitude, consider initiating or adding to a position given Q3 ARR, revenue, and RPO acceleration and a 4.3x P/S valuation, but scale exposure to company execution risk and require evidence of sustained growth acceleration in early 2026
• Manage position sizing and use risk controls such as defined stops or option hedges given the binary outcomes for both names and the broader market uncertainty about which sectors lead in 2026
• Track three near-term indicators before materially increasing exposure: Sweetgreen comparable-sales trajectory and margin commentary, Amplitude’s next quarterly ARR/revenue and contract tenor trends, and any changes in consumer or macro spending that would affect recovery assumptions