Robinhood shares fall as BofA flags softer trading activity

Shares of retail trading platform Robinhood HOOD.O fall 1.68% to $68.88

BofA cuts price target on HOOD to $119 from $122, still a 67.7% upside to the stock's last close

Brokerage cites lower trading activity, lower securities lending revenues and a higher tax rate

Adds, the q/q decline in transaction revenues is attributable to lower crypto take rates as well as lower equity and options volumes

23 of 27 analysts rate stock "strong buy" or "buy" and three "hold" and one "sell"; their median PT is $120 - data compiled by LSEG

Including session's move, stock down 39%