Robinhood Markets Inc is trading 5.5% down at $80.37 after Zacks named the stock its Bear of the Day with a Strong Sell rating.
- The downgrade follows weak Q1 results and a 48% plunge in crypto trading volumes, which significantly impacted both revenue and earnings.
- Sentiment is further pressured by a broader risk-off move in the crypto market, with Bitcoin and Ethereum falling roughly 3-4% over the last 24 hours, impacting crypto-exposed brokers.