If an investment is considered “volatile” it means

In other words, volatility refers to the amount of uncertainty or risk about the size of changes in a security's value. A higher volatility means that a security's value can potentially be spread out over a larger range of values. This means that the price of the security can change dramatically over a short time period in either direction. A lower volatility means that a security's value does not fluctuate dramatically, but changes in value at a steady pace over a period of time.

It means it is subject to high fluctuations in value (aka risky). In these types of investments, there are high risks, but also high potential rewards.