While the latest positive rumblings in the stock market are encouraging, it’s still not lost on investors that the S&P 500 is still down over 13% on a year-to-date basis. At the same time, opportunists can leverage this moment and position themselves in growth stocks with multibagger potential by 2025.

To be fair, no one can honestly predict every fluctuation in the market. That’s why you want to spread your bets as widely as possible. While some of these names could pan out, others could flounder. Therefore, the growth stocks with multibagger potential cover a wide variety of relevant industries.

Further, while no one enjoys watching their portfolio succumb to a sea of red ink, usually the best chance for generating significant gains is acquiring high-potential shares while they’re down, not while they’re up in the stratosphere. It’s silly to say, but you can turn that frown upside down with these growth stocks with multibagger potential by 2025.

Just bring an open mind and some patience.

Multibagger Growth Stocks: PayPal (PYPL)

Emblematic of the giveth-and-taketh-away dynamic of the new normal, PayPal (NASDAQ:PYPL) soared following the spring doldrums of 2020. With its core digital payment processing business, PayPal was a benefactor of the global health crisis. People didn’t want to be near each other, but they still wanted to conduct commerce.

PayPal helped fill the gap, thus bolstering PYPL stock. Unfortunately, the sentiment didn’t last as long as management would have liked, with shares giving up most of their pandemic-fueled gains. Sure, PYPL has skyrocketed 30% over the trailing month, but even with this robust move, it’s down 50% YTD.

Nevertheless, PYPL is one of the growth stocks with multibagger potential by 2025. First, while competition concerns are problematic, PayPal is one of the top-ranked companies in the world. Second, the core business plays very well into the gig economy. Per data from Statista.com, the segment is expected to generate gross volume of $455.2 billion by 2023.

Thus, it’s possible that PYPL could move ahead of schedule.

WeWork (WE)

One of the more controversial companies to launch an initial public offering in recent memory, shared office space provider WeWork (NYSE:WE) was finally able to overcome the scandals and enter the public arena. Even so, the company couldn’t escape the troubles. Since the start of this year, WE stock finds itself down 45%. Near-term momentum provides little encouragement, with shares down a few basis points below breakeven on a trailing-month basis.

Still, there could be a glimmer of hope for WE being one of the growth stocks with multibagger potential by 2025. According to the Wall Street Journal, WeWork is attempting to boost its sagging share price by expanding into office software, specifically “selling apps, data tools and other software to landlords and office tenants trying to adjust to the new world of hybrid workplaces.”

What might end up being the saving grace for WeWork is a broader transition to hybrid work solutions if it can’t get a full return. Though remote operations helped many firms get through the pandemic, telecommuting has its own challenges and inefficiencies. Further, the New York Times reported that work from home interferes with developing new generations of corporate employees.

Multibagger Growth Stocks: Fiverr (FVRR)

Somewhat of a hedge against WeWork, Fiverr (NYSE:FVRR) presents an intriguing alternative. During the height of the Covid-19 pandemic, FVRR stock was an undisputed winner, connecting companies with freelance workers. Unfortunately, the gradual acclimatization to Covid-19 and the steady return to normal has done a number on FVRR.

On a YTD basis, shares have plunged 65%, giving up a majority of its pandemic-fueled bonanza. Recent sessions don’t provide much optimism either.

However, FVRR may rise substantially over the long run because of the gig economy. With many employees not wanting to go back to the office, if push comes to shove, at least some will consider the freelance lifestyle.

As well, freelancing may be the future of work. For instance, the impact of globalization means that India may eventually be home to the biggest country for English speakers. Therefore, Fiverr can provide a platform for a job ecosystem that will likely become incredibly competitive.

Volta (VLTA)

While forward-thinking analysts love pounding the table and declaring that electric vehicles are the future, the burgeoning industry won’t advance much if charging infrastructure isn’t available. While 63% of occupied housing units have a garage or carport, that still leaves quite a few people without access to home charging. Therefore, Volta (NYSE:VLTA) may help fill the need.

Admittedly, though, the EV charging business is a tough one, being a victim of the classic chicken-or-egg dilemma. Long story short, EV manufacturers must pump out more vehicles to justify infrastructural investments, but they also need infrastructural investments to justify increased production. As well, Tesla (NASDAQ:TSLA) agreeing to open up its Supercharger network to non-Tesla vehicles presents competition.

Therefore, VLTA is down 70% YTD. However, over the trailing month, it’s up almost 55%. Part of the reason could be its distinct business model, providing EV charging posts near major businesses where foot traffic is high. Combine that with an advertisement-driven ecosystem and VLTA could be one of the growth stocks with multibagger potential by 2025.

Multibagger Growth Stocks: NuScale Power (SMR)

Should the EV rollout prove successful, then another form of infrastructure – the power grid – must be ramped up to accommodate the power demand surge. While renewable solutions such as wind and solar certainly play their roles, their intermittent nature presents reliability issues. And that’s where nuclear energy comes into play.

According to the Office of Nuclear Energy, nuclear power has the highest capacity factor at 92.5%, far above any other power source. What this means is that it has minimal downtime needs, essentially always providing power when people need it. NuScale Power (NYSE:SMR), a specialist in small modular reactors, could easily be one of the growth stocks with multibagger potential by 2025.

Requiring a smaller physical footprint while presenting a safer operational profile than traditional nuclear powerplants, SMRs could be a gamechanger. In fact, the U.S. Nuclear Regulatory Commission recently certified its first SMR – and of course, that would be NuScale.

Plus, with energy resources becoming scarcer due to geopolitical tensions, the U.S. can no longer ignore the nuclear solution. But with NuScale, the solution just got a lot smarter (and smaller).

Match Group (MTCH)

Although you don’t need to look far to find evidence of the devastation of the Covid-19 crisis, the worst impacts were focused on social interactions. While the pandemic was tough on everyone, it was especially difficult for singles, according to a report by the New York Times.

Further, just as people became acclimated to the crisis – and as government agencies loosened Covid-19 restrictions – another outbreak has sprouted, this time monkeypox. That doesn’t bode well for dating platform Match Group (NASDAQ:MTCH).

However, at some point, even the monkeypox situation will fade. Further, the epidemiological challenges of the day present opportunities for MTCH being one of the growth stocks with multibagger potential by 2025.

With pent-up demand sparking phenomena such as retail revenge and revenge travel, it’s not out of the question for the singles scene to encounter its own version of this narrative.

Multibagger Growth Stocks: Riot Blockchain (RIOT)

While I’m a long-term supporter of cryptocurrencies, I acknowledge harsh realities. The most important in my opinion is that digital assets have their bullish and bearish cycles. Trying to fight the tape in either one will likely yield very painful results.

Therefore, I wouldn’t bet too heavily on cryptos nor on blockchain mining operations like Riot Blockchain (NASDAQ:RIOT). Back when things were good in the underlying market, RIOT shares jumped from single-digit levels to near three digits. While it didn’t quite get to a Benjamin, the possibilities were certainly dancing in speculators’ heads. What will happen when cryptos rise again?

For right now, the costs of mining premium cryptos are too expensive and the rewards too small. Therefore, it’s quite possible that RIOT has some more market value to give up. But if you anticipate a resurgence in the sector, RIOT may be one of the speculative growth stocks with multibagger potential by 2025.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.