3 Speculative Tech Stocks That Could Go Parabolic

In recent years, many speculative technology companies have gone public through mergers with special purpose acquisition companies (SPACs). Some of these stocks rose initially, but many have sold off after broadly missing pre-merger forecasts. Rising interest rates also caused many investors to abandon those riskier stocks.

But now that interest rates are set to decline over the next few quarters, it might be time to revisit some of those SPAC-backed companies. I think three of those volatile stocks — AST SpaceMobile (ASTS 0.66%), Intuitive machines (MON 5.25%)and QuantumScape (QS 1.28%) — could turn parabolic as the macro environment heats up again.

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1. AST SpaceMobile

AST SpaceMobile develops Low Earth Orbit (LEO) satellites for low-band cellular connections. It launched its first BlueWalker 3 prototype satellite in 2022 and is preparing to launch its first five commercial Block 1 BlueBird (BB1) satellites on September 12. AT&T and Verizon Communications both signed LEO cellular deals with AST in May ahead of that launch, which would represent the company’s first major step toward generating significant revenue.

AST shares have risen about 570% in the past 12 months in anticipation of BB1’s launch, but could go even higher if it successfully expands its LEO satellite networks to cover more rural and underserved areas over the next few years.

If that happens, analysts expect AST’s revenue to grow at a compound annual growth rate (CAGR) of 684%, from $6.4 million in 2024 to $393.2 million in 2026. With a enterprise value of $4.1 billion, AST stock may already seem expensive at 10 times its projected 2026 sales. But according to Grand View Research, the global LEO satellite market could still expand at a CAGR of 14% from 2024 to 2030.

If AST can only match this growth rate, it could generate $870 million in revenue by 2030 — so it could still have plenty of room to grow as more telcos expand their space cellular networks .

2. Intuitive machines

Another speculative space stock is Intuitive Machines, a developer of lunar lander and exploration vehicles. It generates most of NASA’s contract revenue, and its NOVA-C lunar lander finally landed on the moon last February after several years of delays. This marked America’s first successful moon landing since 1972.

Intuitive Machines won a new Lunar Terrain Vehicle (LTV) contract from NASA last April. It plans to bid for more contracts as it expands its commercial “ridesharing” business, which delivers other third-party payloads to the moon. It generated just $79.5 million in revenue in 2024, but analysts expect that figure to grow at a CAGR of 81% to $474.6 million in 2026 as it expands its business. It is also expected to narrow its net losses and turn a meager profit by the final year.

We should take these estimates with a grain of salt. But with an enterprise value of $317 million, the stock looks cheap at less than one time next year’s sales. If NASA increases its spending on new lunar missions again, Intuitive Machines’ sales could skyrocket and its valuations should rise. Its future still looks murky, but it could attract a lot more attention in the next few years.

3. QuantumScape

QuantumScape is developing solid-state batteries that generate power from solid electrolytes, instead of the liquid electrolytes used in lithium-ion batteries. Solid-state batteries can store more energy, charge faster, withstand higher temperatures and last longer than their lithium-ion counterparts — but they’re also more expensive and harder to produce.

QuantumScape is trying to overcome these challenges by expanding its business. It hasn’t commercialized any of its products yet, but its newest batteries can give electric vehicles (EVs) a range of 400 to 500 miles with a charging time of less than 15 minutes. Most electric vehicles currently have a range of about 300 miles with an average charging time of 30 minutes.

The company’s business model might seem shaky, but it is firmly supported by Volkswagen. Volkswagen has already been working with QuantumScape for more than a decade and has already conducted several road tests with its batteries.

QuantumScape won’t generate any revenue this year, but analysts expect that figure to rise to $5.4 million in 2025 and $19.1 million in 2026 as it commercializes its first batteries.

With an enterprise value of $1.97 billion, QuantumScape may appear overvalued at more than 100 times its 2026 sales. However, it could expand rapidly once solid-state batteries replace lithium-ion batteries – and could be a tempting takeover target for Volkswagen or another major automaker.