Robinhood slumps; Barclays slashes PT on slowing crypto revs
** Shares of retail trading platform Robinhood down 11.2% premarket to $30.78, a five-mth low, amid global market meltdown** U.S. futures sink on Mon and investors dash to safe havens as President Donald Trump's tariffs sow fears of trade wars, recession** Barclays chops PT from $76 to $45, below Wall Street median of $62, per LSEG data** Brokerage sticks with 'overweight' rating, but expects transaction revs to fall 19% q/q, driven mostly by crypto revs** Crypto volumes slowed "meaningfully" in Q1 vs Q4 (-34% q/q), and transaction revs from crypto could come in 18% below consensus, Barclays wrote in research note to clients** New PT based on 21x expected earnings, down from 32x, reflecting broader decrease in market multiples and economic uncertainty, the analysts say** HOOD shares have fallen 19% over the prior two sessions, erasing over $7 bln of market cap, after Trump's sweeping tariffs plan sparked fears of slowdown in consumer spending** Meanwhile, bitcoin , world's largest cryptocurrency, down ~2% at $77,120 on Mon, after hitting five-mth low earlier, and off ~8% from close on Fri** Through Fri, HOOD shares down ~7% YTD but up nearly 90% over the past 12 months** 14 of 21 brokerages covering HOOD rate stock "strong buy" or "buy", rest "hold"