Why These 10 Large-Cap Stocks are Skyrocketing

2. Robinhood Markets, Inc. (NASDAQ:HOOD)

30-day Return as of January 22, 2025: 33.3%

Robinhood Markets, Inc. (NASDAQ:HOOD) reached $50 on January 22, registering a 33% jump from its share price of $37.5 on December 22, 2024. HOOD is a commission-free stock trading and investing app that facilitates the trade of stocks, cryptocurrency, and ETFs.

The stock has huge potential to expand especially in the cryptocurrency area. This explains why Michael Cyprus, an analyst at Morgan Stanley, suggested that HOOD was a top pick on January 17, sending the stock higher. Cyprus remains bullish on the stock, raising his price target on HOOD from $55 to $64, maintaining an overweight rating on the stock.

Analysts celebrate shared optimism about the stock’s performance in the future as the new administration is expected to ease regulations, especially after the new administration’s acting SEC Chair just launched a task force to develop regulatory policies for cryptocurrencies.