Mogo Inc Stock Price, News & Analysis

Mogo Inc. (NASDAQ:MOGO, TSX:MOGO) has launched MogoTrade, Canada's only commission-free stock trading app, offering real-time streaming quotes. The phased rollout begins in Q1 2022, allowing members to access free live stock prices and participate in commission-free trading. MogoTrade is a strategic move to tap into Canada's $8 trillion financial asset market and aims to enhance member engagement and growth. CEO David Feller emphasizes the transformation in investing towards a digital-first experience, while the President, Greg Feller, highlights this launch as a significant milestone for Mogo.

Mogo Inc. (NASDAQ:MOGO) has received final approval from the Investment Industry Regulatory Organization of Canada (IIROC) to launch MogoTrade, a commission-free stock trading solution. This milestone comes as Mogo aims to revolutionize investing for Canadians. MogoTrade is notable for being the first trading app globally that turns investments into climate action by supporting reforestation efforts in Canada. The app will be available soon, following the acquisition of MogoTrade Inc. in September 2021.

Mogo Inc. (TSX:MOGO, NASDAQ:MOGO), a leader in Canada's financial technology sector, announced key amendments to its senior credit facility with Fortress Investment Group. The changes include a reduction in the effective interest rate to 8% plus LIBOR, an increase in loan capital from $50 million to $60 million, and an extension of the maturity date to July 2, 2025. These amendments strengthen Mogo's financial position by improving cash flow and providing additional capital for growth initiatives.

Mogo announced the closing of a sale to institutional investors, totaling 6,111,112 common shares and warrants at US$4.50 per Unit, raising approximately US$27.5 million, netting around US$25.3 million. Each warrant allows purchase of a common share at US$4.70, exercisable in six months. Proceeds will be used for working capital and potential acquisitions, especially in the cryptocurrency sector. The offering was conducted under an effective shelf registration statement, with no securities offered in Canada.

Mogo Inc. (NASDAQ:MOGO, TSX:MOGO) has announced a registered direct offering to institutional investors, selling 6,111,112 common shares and warrants for a total of approximately US$27.5 million at US$4.50 per Unit. Each warrant will allow purchase of an additional common share at US$4.70. The funds will be used for working capital and potential acquisitions in the cryptocurrency sector. The offering is expected to close by December 13, 2021, pending customary conditions.

Mogo Inc. has announced a new minority investment in Gemini's recent US$400 million financing round led by Morgan Creek Digital. This investment complements Mogo's existing portfolio worth approximately $150 million, which includes substantial holdings in cryptocurrency platforms, gaming companies, and emerging metaverse opportunities. Key investments include ownership stakes in Coinsquare, Tetra Trust, and Enthusiast Gaming (NASDAQ:EGLX). Mogo aims to enhance its fintech platform and digital wallet capabilities through this strategic shift.

Mogo Inc. (NASDAQ:MOGO, TSX:MOGO), a digital payments and financial technology company, announced that President Greg Feller will participate in the Raymond James Technology Investors Conference from December 6-8, 2021. He will also be available for one-on-one meetings with interested investors through their Raymond James representatives.

Mogo empowers nearly 1.8 million members with digital solutions for financial improvement, including a spending account, Mogo Visa Platinum Prepaid Card, and features for buying bitcoin, credit monitoring, and personal loans. More at mogo.ca.

Mogo Inc. reported significant growth in its Q3 2021 results. Member base grew by 64%, reaching approximately 1.8 million. Subscription and services revenue saw a remarkable increase of 126%, totaling $9.5 million. Overall revenue rose by 58% to $15.4 million. Payment processing volume surged 65% to $2.4 billion. Despite these gains, the company reported a net loss of $9.8 million and an Adjusted EBITDA loss of $3.4 million. Mogo anticipates strong growth in Q4, increasing its revenue guidance for FY 2022.

Mogo Inc. (NASDAQ:MOGO) has launched a pilot program with Sun Life to introduce its Moka app to over 20,000 Sun Life Group Retirement Services members. This automated savings tool helps users round up daily purchases and invest the spare change in diversified portfolios. Moka has over 1 million downloads and 10,000 five-star reviews, facilitating easy monthly savings. The app aligns with Sun Life's aim to enhance clients' financial security, particularly post-COVID-19. Mogo aims to empower more than 1.7 million members through innovative digital solutions.