By Ian Wyatt

NEW YORK ( TheStreet) -- Sure, the Russell 2000 index gained around 25% last year, and the S&P 500 was up roughly 15%. But despite the strong performance of these indices, single stocks are still, in my opinion, the best place to seek outsized returns. And by looking to an often-overlooked index, I've found a stock that could rush much higher in the coming months.

The next decade will likely be one of increasing connectivity as people adapt to new ways to keep in touch via evolving mediums -- from video chat to basic landline service. I've been investigating the stocks in the Dow Jones Fixed Line Telecommunications Index (DJUSFC), which is where I noticed a name that is usually forgotten as a pioneer in the crowded space of telephone services.

This index includes such familiar names as Verizon ( VZ) and AT&T ( T), stocks that provided investors with returns of 22.5% and 9.5%, respectively, in 2010. The company that I've found competes with both, and in fact forced them to change the way they do business when it burst on the scene eight years ago.

But with the global importance of cellular services and social networks, this company has had to drastically change its own thinking as well. The company's focus isn't on fixed-site, wired options -- now it's going mobile to chase down new subscribers.

This forgotten company is Vonage ( VG), a company that suffered a serious recession beat-down. Consumers and businesses began trying Vonage when it was the first to really popularize Voice over Internet Protocol (VoIP) services as a viable alternative to landlines. In 2010, investors again took notice of the stock.

Consumers became hooked on reliable VoIP technology as bargain calling plans evolved. But as competition increased, Vonage's subscriber growth stagnated -- it now has just 2.4 million subscribers. Recently, to help lift subscriber numbers the company introduced Vonage World, a calling plan that reaches 60 nations. It also launched an app for Facebook users.

Of course, the big name in VoIP lately has been Luxembourg-based Skype, which typically offers prices that undercut Vonage. Skype recently suffered a public relations nightmare when its 21 million subscribers lost access for about a day.

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