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

Straits Research projects a 10x increase in ride-hailing revenue from $87.7B in 2025 to $918.2B by 2033, underpinning the bullish thesis for Lyft. Lyft is down 83% from its all-time high but reported gross bookings +15% in 2025 and active riders +18% to 29.2M; it trades at ~0.74x projected sales this year and 14x forecast 2027 EPS versus Uber's ~2.63x P/S in 2026. Webull is down 92% from its high but registered users rose 15% to 26.8M, options volume +38% to 154M, and management is pushing toward adjusted profitability; shares trade at ~3.7x projected 2026 sales and ~18x forecast 2027 EPS with expected ~20%+ sales growth. The article argues both names could double by (or before) 2028, presenting an opportunistic, but idiosyncratic, long idea set for stock-pickers.

Analysis

Lyft and Webull sit on two different re-rating axes: Lyft’s optionality is valuation multiple expansion tied to higher-margin adjacencies (advertising, subscriptions, B2B logistics) while Webull’s path is pure margin conversion and monetization of retail flow. The non-obvious beneficiary of both trends is the market infrastructure layer — exchanges, clearinghouses, and retail market-makers — which capture a disproportionate share of incremental revenue as options/crypto/advertising volumes rise.

Key near-term catalysts are deliverable (quarterly profitability beats, crypto re-listing uptake, and measurable advertising RPMs) and operate on a 3–12 month clock; structural outcomes (autonomous adoption, nationwide driver regulation, and persistent retail flow growth) play out over 12–36 months and will determine permanent multiples. Tail risks include regulatory action on crypto/retail trading, faster-than-expected autonomous adoption compressing per-rides economics, and a macro tightening that re-prices long-duration digital-economy growth.

Consensus is long-duration and growth-hungry: the market is pricing optionality into both names but under-weights the exchange/infra capture and underestimates execution risk on new revenue lines. That opens a clear asymmetric playbook: express bullish idiosyncrasy with limited-premium vehicles (LEAPs, call spreads) while hedging regulatory/tech tails via pair trades and targeted puts. Position sizing should prize time for fundamental read-throughs (next 2–4 quarters) rather than headline-driven intraday speculation.

Key Decisions for Investors

• Pair trade — Long LYFT / Short UBER, equal-dollar, 12–24 month horizon. Entry after next Lyft quarterly (buy into any post-earnings dip). Target: 40–100% relative outperformance if Lyft re-rates on ad/subscription KPIs; downside: 15–20% absolute if market-share erosion or macro shock. Size: 1–2% NAV net exposure; place 15% relative stop-loss.
• Long BULL LEAP — Buy BULL Jan 2028 long-dated calls (strike ~ATM) or 2-year call spread to cap premium. Rationale: convex payoff to margin turn + crypto reinstatement. Target: 2x+ if revenue/engagement trends sustain; max loss = premium (use 0.5–1% NAV). Trim if 50% gain or if monthly DAU/sticky revenue misses two consecutive quarters.
• Infrastructure play — Long NDAQ (Nasdaq) 12-month stock position (or buy Jan-2027 calls). Rationale: capture higher per-contract/exchange fees from rising retail/options throughput. Target: 20–35% upside; protect with 10% trailing stop or buy a 9–12 month 10% OTM put as tail insurance. Size: 0.5–1% NAV.
• Tail hedges — Buy short-dated protective put spreads on BULL and LYFT (3–6 month expiries) sized to cover max pain scenarios (regulatory clampdowns or crash in retail activity). Cost-funded by selling small amounts of short-dated OTM calls on the larger of the two long positions. Aim for 2–3:1 asymmetric payoff where possible.