Multibagger Selection: Perplexity's picks
Perplexity picked ONDS, RCAT, AEVA, SOUN, RGTI with a twelve-month thesis, measured against SPY at each checkpoint.
| Experiment | Multibagger Selection |
|---|---|
| Model | Perplexity |
| Prompt version | multibagger-selection-v1 |
| Asked | |
| Horizon | 12-month |
| Benchmark | SPY |
| Status | Being measured |
The picks
| Rank | Symbol | Return | Confidence | vs benchmark | Called right |
|---|---|---|---|---|---|
| 1 | ONDS | — | 58% | — | — |
| 2 | RCAT | — | 52% | — | — |
| 3 | AEVA | — | 48% | — | — |
| 4 | SOUN | — | 45% | — | — |
| 5 | RGTI | — | 38% | — | — |
Checkpoints
| Checkpoint | Portfolio return | Return vs SPY | Best peak multiple | Picks reaching 2x |
|---|---|---|---|---|
| 1 week | +0.34% | +0.87% | 1.18x | 0 |
The model's market view
Small and mid-cap speculative growth stocks remain volatile after a sharp de-rating in several AI, quantum, drone and sensing names. The most credible multibagger candidates combine contracted or guided revenue ramps, improving unit economics, funded balance sheets, and near-term verifiable execution events; valuation compression and dilution remain the principal hazards.
Why each pick
ONDS
Ondas has the strongest evidence of a defense-driven operating inflection among the five: Q2 2026 revenue was $83.8 million, up from roughly $6.3 million a year earlier, while management raised 2026 revenue guidance to at least $390 million and outside estimates cited $525.6 million. A roughly $457 million pro forma backlog, over $110 million of Q2 orders, and a reported $4.3 billion pipeline give unusually tangible support for continued acceleration. The stock is speculative, but its revenue base is expanding far faster than most companies in its market-cap range.
RCAT
Red Cat offers the greatest upside asymmetry in the group because its market capitalization is only about $677 million despite a reaffirmed $150-$180 million 2026 revenue target, Q2 2026 revenue of $20.2 million up 527% year over year, and $325.6 million of cash at June 30. The thesis depends on a steep second-half production and delivery ramp, but success would make the current valuation very small relative to revenue and potential defense-drone profitability.
AEVA
Aeva combines a small $708.91 million market capitalization with three separable commercialization paths: automotive 4D LiDAR with Daimler Truck and Bendix, industrial sensing through SICK, and a newly launched optical-connectivity business for AI data centers. The hyperscaler joint development agreement targets initial deployment in H2 2027 and ramp in 2028, so the 12-month catalyst is qualification and design-progress evidence rather than immediate revenue, but the option value is large relative to the current size.
SOUN
SoundHound has real revenue scale and growth: Q2 2026 revenue was $61.9 million, up 45% year over year, and management raised 2026 revenue guidance to $230-$260 million before including the LivePerson acquisition. The stock has fallen about 73% over the past year, creating a potential re-rating setup if Q3 results and LivePerson integration demonstrate that growth and margin trends are intact; the offset is persistent losses and dilution.
RGTI
Rigetti is included for its funded balance sheet, zero debt, and potential quantum-computing re-rating, but it is the weakest fundamental candidate: Q2 2026 revenue was only $5.1 million against a $3.85 billion market capitalization. The investment case rests on technology milestones, system deliveries such as the $8.4 million C-DAC 108-qubit order expected to be recognized in Q4 2026, and broader quantum adoption rather than current financials.
Other models on the same run
| Model | Picks |
|---|---|
| Gemini 3.6 Flash High | ONDS, RCAT, AEVA, SOUN, RGTI |
| Muse Spark 1.1 | LUNR, ACHR, SOUN, SMR, FLNC |
| Grok 4.7 | CAPR, INOD, NUVB, FEIM, PAYS |
| Claude Sonnet 5.5 | AEHR, LUNR, SOUN, NNE, NVTS |
| GPT-6 | FLNC, BKSY, AMPX, INOD, ENVX |
| DeepSeek | AQST, CAPR, VNDA, CGEM, MLYS |
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