Robinhood (HOOD) stock is advancing 6% after Morgan Stanley identified it as a top pick. The shares also appear to be getting a lift from a report about President-elect Donald Trump's cryptocurrency policies. Morgan Stanley's Take on HOOD Stock Robinhood has many growth opportunities that are not yet baked into the stock, and the name can attract more investors, Morgan Stanley analyst Michael Cyprys wrote. Moreover, with the Trump administration likely to loosen crypto regulations,  the firm can become more involved in the asset class going forward, the analyst believes.

Also importantly, analysts' estimates for HOOD can rise as its customers become more enthused about investing overall,  according to Cyprys. The analyst kept an Overweight rating on HOOD stock. Trump's Potential Crypto Policies Trump reportedly intends to issue an executive order that would push the federal government to prioritize crypto and cooperate with the industry, Bloomberg reported today. The order could also mandate the launch of a crypto council which would advocate for the sector within the government. The Recent Price Action of HOOD Stock In the last month, the shares have jumped 28%, while they have surged 83% in the last three months. While we acknowledge the potential of HOOD, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HOOD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock . READ ALSO 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock Disclosure: None. This article is originally published at Insider Monkey