Robinhood Markets may be worth $15/share in a takeover - analyst

Robinhood Markets (NASDAQ:HOOD) may be worth about $15/share in a takeover, which may be more likely after shares of the stock and crypto trading company have plunged, according to a Citi analyst note from Tuesday. HOOD shares rose 5.2%. Robinhood could see ~$15/share in a takeout, similar to the premium Goldman Sach's paid for the take TD Ameritrade, Citi analyst Jason Bazinet wrote in a note when he cut HOOD's price target to $13 from $24/share. The Citi note came as Robinhood's (HOOD) shares have lost about three quarters of their value since the IPO last summer at least partly as Bitcoin and other crypto names have plunged in recent weeks. Robinhood shares plunged 12% on Wednesday after Coinbase Global (COIN) said cryptocurrency trading is declining in Q2 from Q1 levels. "Given the drop in HOOD’s equity value, we would not be surprised if the company garnered takeover interest," Bazinet, who has a